Common use of Matters Involving Third Parties Clause in Contracts

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7, then the indemnified party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 4 contracts

Samples: Asset Purchase Agreement (Xyratex LTD), Asset Purchase Agreement (Xyratex LTD), Asset Purchase Agreement (Xyratex LTD)

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Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, it will be bound by the indemnifying party shall be authorized to consent to a settlement of, or results obtained by the entry of any judgment arising from, any such Third Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 4 contracts

Samples: Purchase Agreement (Pentastar Communications Inc), Merger Agreement (Pentastar Communications Inc), Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party entitled to indemnification hereunder (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party other Party (the "INDEMNIFYING PARTY") under this Section 78, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, (E) the named parties to the Third Party Claim do not include both the Indemnified Party and the Indemnifying Party, and (iiiF) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c8(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 8.

Appears in 4 contracts

Samples: Stock Exchange Agreement (Orius Corp), Stock Exchange Agreement (Orius Corp), Stock Exchange Agreement (Orius Corp)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the “Indemnified Party”) with respect to any matter (a "Third “Third-Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the “Indemnifying Party”) under this Section 7Article 12, then the indemnified party shall Indemnified Party shall, if a claim is to be made against an Indemnifying Party under this Article 12, promptly (and in any event within five (5) business days after receiving notice of the Third-Party Claim) notify each indemnifying party Indemnifying Party thereof in writing. Thereafter, the Indemnified Party shall deliver to the Indemnifying Party, within five (5) business days after the Indemnified Party’s receipt thereof, copies of all notices and documents (including court papers) received by the indemnified party relating to the Third-Party Claim. Notwithstanding anything in the foregoing to the contrary, the failure of an Indemnified Party to give such notice to the Indemnifying Party shall not relieve the Indemnifying Party of any liability that it may have to any Indemnified Party, except to the extent that the Indemnifying Party demonstrates that the defense of the matter giving rise to the Indemnified Party’s claim is prejudiced by the Indemnified Party’s failure to give or delay in giving such notice. (b) Any indemnifying party Indemnifying Party will have the right at any time to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from assume and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts thereafter conduct the defense of the Third Third-Party Claim actively and diligently. If the indemnifying party assumes the defense with counsel of any such claim, the indemnifying party shall select counsel its choice reasonably acceptable satisfactory to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified partyIndemnified Party; provided, however, that: (i) that the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Indemnifying Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Third-Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld withheld) unless the judgment or delayedproposed settlement involves only the payment of money damages and does not impose an injunction or other equitable relief upon the Indemnified Party. Each indemnified party shallShould an Indemnifying Party so elect to assume the defense of a Third-Party Claim, and the Indemnifying Party shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully not be liable to the Indemnified Party for legal expenses subsequently incurred by the Indemnified Party in connection with the indemnifying party defense thereof. If the Indemnifying Party assumes such defense, the Indemnified Party shall have the right to participate in the defense thereof and to employ counsel at its own expense, separate from the counsel employed by the Indemnifying Party, it being understood, however, that the Indemnifying Party shall control such defense. The Indemnifying Party shall be liable for the reasonable fees and expenses of such Third counsel employed by the Indemnified Party for any period during with the Indemnifying Party has not assumed the defense thereof. (c) Unless and until an Indemnifying Party assumes the defense of the Third-Party Claim being defended by as provided in Section 12.4(b) above, however, the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records Indemnified Party may defend against the Third-Party Claim in any manner it may reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialdeem appropriate. (d) In no event will the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Indemnified Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment on or enter into any settlement with respect to, to the Third Third-Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenseswithheld).

Appears in 3 contracts

Samples: Asset Purchase Agreement (Primal Solutions Inc), Purchase Agreement (Primal Solutions Inc), Assignment of Royalties and Rights (Primal Solutions Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Acquiree Indemnified Parties (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party Acquiror Principal Shareholder (the “Indemnifying Party”) under this Section 7Article XII, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is thereby prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b12.3(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions condition in Section 7.5(b) and 7.5(c12.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Damages the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article XI.

Appears in 3 contracts

Samples: Share Exchange Agreement (Lipidviro Tech Inc), Securities Exchange Agreement (Top Gear Inc), Share Exchange Agreement (AmpliTech Group, Inc.)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Acquiree Indemnified Parties (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party the Acquiror Principal Shareholder (the “Indemnifying Party”) under this Section 7Article XII, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is thereby prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b12.3(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions condition in Section 7.5(b) and 7.5(c12.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Damages the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article XI.

Appears in 3 contracts

Samples: Share Exchange Agreement (Cactus Ventures, Inc.), Share Exchange Agreement (Moving Box Inc), Share Exchange Agreement (RPM Dental, Inc.)

Matters Involving Third Parties. (a) For purposes of this Section 11.3, a party against which indemnification may be sought is referred to as the “Indemnifying Party” and the party which may be entitled to indemnification is referred to as the “Indemnified Party.” (b) If any third party shall notify any indemnified party the Indemnified Party with respect to any matter (a "Third Party Claim") which that may give rise to a claim for indemnification against any indemnifying party the Indemnifying Party under this Section 711, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting setting forth, in reasonable detail, the nature and basis of the claim and the amount thereof, to the extent known, and any other relevant documentation in the possession of the Indemnified Party (a “Notice of Claim”); provided, however, that failure on the part of the Indemnified Party to notify any Indemnifying Party shall not relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is thereby materially prejudiced by such failure. (bc) Any indemnifying party will have the right to defend the indemnified party against the Third The Indemnifying Party Claim so long as: (i) the indemnifying party notifies the indemnified party may, at its own expense, participate in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of any claim, suit, action or proceeding by providing written notice to the Third Indemnified Party Claim actively and diligently. If delivering to the indemnifying party assumes Indemnified Party a written agreement that the defense Indemnified Party is entitled to indemnification pursuant to Section 11 for all Losses arising out of such claim, suit, action or proceeding, and that the Indemnifying Party shall be liable for the entire amount of any Loss, at any time during the course of any such claim, suit, action or proceeding, assume the indemnifying party shall select defense thereof, provided that the Indemnifying Party’s counsel is reasonably acceptable satisfactory to the indemnified party to conduct Indemnified Party, and the defense of such Third Indemnifying Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently thereafter consult with the effectiveness thereof; (ii) Indemnified Party upon the Indemnified Party’s reasonable request for such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply consultation from time to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents time with respect to such Third claim, suit, action or proceeding. If the Indemnifying Party Claim. (c) So long as assumes such defense, the indemnifying party is conducting Indemnified Party shall have the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in right (but not controlthe obligation) to participate in the defense thereof and to employ counsel, at its own expense, separate from the counsel employed by the Indemnifying Party. If, however, the Indemnifying Party reasonably determines, based upon written advice of counsel, that the Third representation by the Indemnifying Party’s counsel of both the Indemnifying Party Claim and the Indemnified Party would present a conflict of interest, then such Indemnified Party may employ separate counsel (ii) the indemnified party will not Indemnifying Party’s consent to the entry choice of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written counsel is required, such consent of the indemnifying party, which consent shall not to be unreasonably withheld withheld) to represent or delayeddefend it in any such claim, action, suit or proceeding and the Indemnifying Party shall pay the reasonable fees and disbursements of one such separate counsel. Each indemnified party shallWhether or not the Indemnifying Party chooses to defend or prosecute any such claim, and suit, action or proceeding, all of the Parties hereto shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialor prosecution thereof. (d) In Any settlement or compromise made or caused to be made by the event Indemnified Party or the Indemnifying Party, as the case may be, of any such claim, suit, action or proceeding of the conditions kind referred to in this Section 7.5(b) and 7.5(c) above are or become unsatisfied 11.3 shall also be binding upon the Indemnifying Party or the indemnifying party does not Indemnified Party, as the case may be, in the same manner as if a final judgment or decree had been entered by a court of competent jurisdiction in the amount of such settlement or compromise, provided that no obligation, restriction or Loss shall be imposed on the Indemnified Party as a result of such settlement without its prior written consent. The Indemnified Party will give the Indemnifying Party at least 30 days’ notice of any proposed settlement or compromise of any claim, suit, action or proceeding it is defending, during which time the Indemnifying Party may reject such proposed settlement or compromise; provided that from and after such rejection, the Indemnifying Party shall be obligated to assume the defense of and full and complete liability and responsibility for such Third Party Claim claim, suit, action or proceeding and any and all Losses in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim connection therewith in any manner it reasonably may deem appropriate, subject to the prior written consent excess of the indemnifying party, amount of unindemnifiable Losses which consent shall not the Indemnified Party would have been obligated to be unreasonably withheld pay under the proposed settlement or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)compromise.

Appears in 3 contracts

Samples: Stock Purchase Agreement (Insight Enterprises Inc), Stock Purchase Agreement (Teletech Holdings Inc), Stock Purchase Agreement (Teletech Holdings Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party with respect to the Practice or Professional Business Manager receives notice or acquires knowledge of any matter (a "Third Party Claim") which may give rise to a claim by another person and which may then result in a claim for indemnification against any indemnifying party under this Section 7Professional Business Management Agreement, then then: (i) if such notice or knowledge is received or acquired by the indemnified party Practice, the Practice shall promptly notify each indemnifying party thereof Professional Business Manager; and (ii) if such notice or knowledge is received or acquired by Professional Business Manager, the Professional Business Manager shall promptly notify the Practice; except that no delay in writinggiving such notice shall diminish any obligation under this Professional Business Management Agreement to provide indemnification unless (and then solely to the extent) the Party from whom such indemnification is sought is prejudiced. (b) Any indemnifying party will Party from whom such indemnification (the “Indemnifying Party”) is sought shall have the right to defend the indemnified party Party seeking such indemnification (the “Indemnified Party”) against such claim by another person (the Third Party Claim Claim”) with counsel of the Indemnifying Party’s choice reasonably satisfactory to the Indemnified Party so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim to the Indemnifying Party, the Indemnifying Party notifies the Indemnified Party that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against all adverse consequences the entirety of any Damages the indemnified party Indemnified Party may suffer caused by, resulting from from, arising out of or caused by the relating to such Third Party Claim; (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably satisfactory to the Indemnified Party that the Indemnifying Party has the financial resources necessary to defend against the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified partyfulfill its indemnification obligations; and (iii) the indemnifying party Third Party Claim seeks money damages; (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim (other than an optometric malpractice claim) is not, in the good faith judgment of the Indemnified Party, likely to establish a precedential custom or practice adverse to the continuing business interests of the Indemnified Party; and (v) the Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, 7.4(b): (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim; (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent Indemnifying Party; and (iii) the Indemnifying Party shall not consent to be unreasonably withheld the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by prior consent of the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnified Party. (d) In the event If any of the conditions specified in Section 7.5(b7.4(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does is not assume the defense of such Third Party Claim in the first instancesatisfied, however; (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateadvisable (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith); (ii) the indemnifying parties will Indemnifying Party shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' ’ and accountants’ fees and expenses); and (iii) the Indemnifying Party shall remain responsible for any adverse consequences the Indemnified Party may suffer caused by, resulting from, arising out of or relating to such Third Party Claim to the fullest extent provided in this Professional Business Management Agreement.

Appears in 3 contracts

Samples: Professional Business Management Agreement, Professional Business Management Agreement (Eyemasters Inc), Professional Business Management Agreement (Eye Care Centers of America Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which that may give rise to a right to claim for indemnification against any indemnifying other party (the "Indemnifying Party") under this Section 7SECTION 8.2 or SECTION 8.3, then the indemnified party Indemnified Party shall promptly (and in any event within five business days after receiving notice of the Third Party Claim) notify each indemnifying party the Indemnifying Party thereof in writing. writing (bthe "Claim Notice"); provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) Any indemnifying party the Indemnifying Party is adversely affected in its ability to defend against such Claim or is otherwise prejudiced thereby. The Indemnifying Party will have the right to assume and thereafter conduct the defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as (i) the Indemnifying Party notifies the Indemnified Party in writing (within twenty (20) days after the Indemnified Party has given the Claim Notice) that the Indemnifying Party will fulfill its indemnification obligations hereunder and provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; fulfill its indemnification obligations hereunder, (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; relief, and (iii) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) abovethis SECTION 8.4, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party, except in the cases involving only money damages which are not likely to Section 7.5(b), including providing full access establish a precedential custom or practice adverse to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by continuing business interests of the indemnifying party for investigations, depositions and trial. (d) Indemnified Party. In the event any of the conditions in Section 7.5(b) and 7.5(c) above are this SECTION 8.4 is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to only with consent from the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and withheld), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesexpenses if the Indemnified Party delivers an undertaking to repay if not ultimately entitled to indemnification), and (iii) the Indemnifying Parties will remain responsible, subject to the terms and limitations set forth in this ARTICLE VIII, for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Agreement.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Alpha Natural Resources, Inc.), Asset Purchase Agreement (Alpha Natural Resources, Inc.), Asset Purchase Agreement (Alpha Natural Resources, Inc.)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 days fifteen (15) after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(i)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c8(i)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 8(i).

Appears in 2 contracts

Samples: Merger Agreement (Rocky Mountain Internet Inc), Merger Agreement (Rocky Mountain Internet Inc)

Matters Involving Third Parties. (a) If any third Third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7other Party (the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party Claim so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party party Claim that the indemnifying Indemnifying Party will assume the defense of such Third party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party party Claim and fulfill its indemnification obligations, (iii) the Third party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third party Claim is not, in the good faith judgment of the Indemnifying Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third party Claim, the Indemnified Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialClaim. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 2 contracts

Samples: Customer Assignment Agreement (Certified Services Inc), Customer Purchase Agreement (Certified Services Inc)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party hereto (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the “Indemnifying Party”) under this Section 7Article IX, then the indemnified party Indemnified Party shall use reasonable efforts to notify the Indemnifying Party thereof promptly notify each indemnifying party thereof and in writing. any event within ten (b10) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 calendar days after the indemnified party has given receiving any written notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified third party; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that: , the Indemnifying Party is actually prejudiced thereby. (ib) Once the indemnifying party shall pay or cause Indemnified Party has given notice of the matter to be paid all amounts arising out the Indemnifying Party, the Indemnified Party may, subject to the Indemnifying Party’s rights to assume the defense of such settlement or judgment concurrently with matter pursuant to paragraph (c) below, defend against the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of matter in any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimmanner it deems appropriate. (c) So long as the indemnifying party is conducting The Indemnifying Party may at any point in time choose to assume the defense of the Third Party Claim all of such matter, in accordance with Section 7.5(b) above, which event: (i) the indemnified party Indemnifying Party shall defend the Indemnified Party against the matter with counsel of its choice reasonably satisfactory to the Indemnified Party, (ii) the Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party shall be responsible for the fees and participate expenses of one separate co-counsel for all Indemnified Parties to the extent the Indemnified Party is advised, in writing by its counsel, that either (but not controlx) the counsel the Indemnifying Party has selected has a conflict of interest, or (y) there are legal defenses available to the Indemnified Party that are different from or additional to those available to the Indemnifying Party), and (iii) the Indemnifying Party shall reimburse the Indemnified Party for the reasonable costs of defense or investigation for the period prior to the assumption of the defense. (d) Assumption of the defense of any matter by the Third Indemnifying Party Claim and shall without further action constitute an irrevocable waiver by the Indemnifying Party of its right to claim at a later date that such third party action for which the defense was assumed is not a proper matter for indemnification pursuant to this Article IX. (iie) the indemnified party will The Indemnified Party shall not consent to the entry of any a judgment or enter into any settlement with respect to the Third Party Claim any matter which may give rise to a claim for indemnification without the prior written consent of the indemnifying partyIndemnifying Party, which consent shall may not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (df) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does The Indemnifying Party shall not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of a judgment with respect to any judgment matter which may give rise to a claim for indemnification or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect tothereto, without the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenseswithheld).

Appears in 2 contracts

Samples: Stock Purchase Agreement, Stock Purchase Agreement (Eagle Family Foods Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party other Party (the "INDEMNIFYING PARTY") under this Section 7Article VI, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b6.4(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c6.4(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article VI.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Geokinetics Inc), Stock Purchase Agreement (Geokinetics Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) manner described above, (i) it will be bound by the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) results obtained by the defense of the Third Indemnified Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialClaim. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 2 contracts

Samples: Purchase Agreement (Rentx Industries Inc), Purchase Agreement (Rentx Industries Inc)

Matters Involving Third Parties. (a) If any third party shall notify commence an Action against any indemnified party Indemnified Party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 710.1 or 10.2, then the indemnified party Indemnified Party shall promptly notify each indemnifying party thereof the Indemnifying Party in writingwriting as soon as practicable. (b) Any indemnifying party will The Indemnifying Party shall have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice and reasonably acceptable to the Indemnified Party so long as: as (i) the indemnifying party notifies Indemnifying Party shall notify the indemnified party Indemnified Party in writing (within 20 30 days after the indemnified party has given notice its receipt of notice, in accordance with Section 12.5, of the Third Party Claim as provided in Section 10.4 or, if the Indemnifying Party has disputed the claim for indemnification, then within ten days of a final determination that such claim is a valid claim under Section 10.1 or 10.2) that the indemnifying party Indemnified Party will indemnify the indemnified party be entitled to indemnification under Section 10.1 or 10.2 hereof from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from or caused by arising out of the Third Party Claim; Claim and (ii) the Third Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party diligently conducts the defense of the Third Party Claim actively and diligentlyClaim. If It is agreed that no delay on the indemnifying party assumes part of the defense Indemnified Party in notifying any Indemnifying Party of a claim (including any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If ) will relieve the indemnifying party shall have assumed the defense of any Third Indemnifying Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized thereby unless said Indemnifying Party is prejudiced by such failure to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimgive notice. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b10.4(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel counsel, at its sole cost and expense expense, and participate in (but not control) the defense of the Third Party Claim Claim; provided that, if there is a conflict between the Indemnified Party and the Indemnifying Party with respect to the subject matter of the Third Party Claim, the Indemnified Party may retain separate counsel at the expense of the Indemnifying Party, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and (iii) the Indemnified Party shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully within reason with the indemnifying party in the Indemnifying Party’s defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (iiv) the indemnified party will have the right to defend against, and Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying partyIndemnified Party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)delayed.

Appears in 2 contracts

Samples: Merger Agreement (Chanticleer Holdings, Inc.), Merger Agreement (Chanticleer Holdings, Inc.)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified either party to this Agreement (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party to this Agreement (the "Indemnifying Party") under this Section 7Article VII, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party The Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party in writing within 20 days after Indemnified Party that the indemnified party has given notice of Indemnifying Party will indemnify the Indemnified Party from the Third Party Claim, (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; fulfill its indemnification obligations hereunder, (iiiii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.6(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shallwithheld, and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant to Section 7.5(b)prior written consent of the Indemnified Party, including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialwhich shall not be withheld unreasonably. (d) In the event If any of the conditions in Section 7.5(b) and 7.5(c7.6(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party will remain responsible for any Losses and Liabilities the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article VII.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Pro Dex Inc), Asset Purchase Agreement (Pro Dex Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party (the “Indemnifying Party”) under this Section 7Article XI, then the indemnified party Indemnified Party shall promptly (and in any event within ten (10) Business Days after receiving notice of the Third Party Claim) notify each indemnifying party thereof Indemnifying Party in writingwriting (an “Indemnification Notice”); provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 days thirty (30) Business Days (or earlier in the event the underlying Third Party claim requires action) after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedent or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b11.2(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld unreasonably) and (iii) the Indemnifying Party will not consent to the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event that any of the conditions in Section 7.5(b) and 7.5(c11.2(b) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancefail to be complied with, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article XI. (e) Notwithstanding anything to the contrary contained in this Article XI, Parent, the Company and Merger Subsidiary shall not settle and pay any Third Party Claim unless and until Parent shall have obtained the prior written consent of the Company which consent shall not unreasonably withhold or delay.

Appears in 2 contracts

Samples: Merger Agreement (Blue Mountain Resources Inc.), Merger Agreement (310 Holdings, Inc.)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party other Party (the "INDEMNIFYING PARTY") under this Section 7, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; fulfill its indemnification obligations hereunder, and (iiiC) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7(c)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which Indemnifying Party (such consent shall not to be unreasonably withheld unreasonably) and (C) the Indemnifying Party will not consent to the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (such consent not to Section 7.5(bbe withheld unreasonably and such consent not to be withheld at all if the judgment or settlement contains a full release reasonably satisfactory to the Indemnified Party), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c7(c)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)) and (C) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Jacmar Companies), Stock Purchase Agreement (Assi Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party notifies the Purchaser (the "Indemnified Party") with respect to any matter which may give rise to a claim (other than a Tax Claim) for indemnification against the Seller (the "Third Party ClaimIndemnifying Party") under Section 10.2, then the Indemnified Party shall use reasonable efforts to notify the Indemnifying Party thereof promptly and in any event within ten days after receiving any written notice from a third party; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that, the Indemnifying Party is actually prejudiced thereby. (b) Once the Indemnified Party has given notice of the matter to the Indemnifying Party, the Indemnified Party may, subject to the Indemnifying Party's rights to assume the defense of such matter pursuant to paragraph (c) below, defend against the matter in any manner it deems appropriate. (c) The Indemnifying Party may at any point in time choose to assume the defense of all of such matter, in which event: (i) the Indemnifying Party shall defend the Indemnified Party against the matter with counsel of its choice reasonably satisfactory to the Indemnified Party, (ii) the Indemnified Party may retain separate counsel at its sole cost and expense (except that the Indemnifying Party shall be responsible for the fees and expenses of one separate co-counsel for all Indemnified Parties to the extent the Indemnified Party is advised, in writing by its counsel, that either (x) the counsel the Indemnifying Party has selected has a conflict of interest, or (y) there are legal defenses available to the Indemnified Party that are different from or additional to those available to the Indemnifying Party), and (iii) the Indemnifying Party shall reimburse the Indemnified Party for the reasonable costs of defense or investigation for the period prior to the assumption of the defense. (d) Assumption of the defense of any matter by the Indemnifying Party shall without further action constitute an irrevocable waiver by the Indemnifying Party of its right to claim at a later date that such third party action for which the defense was assumed is not a proper matter for indemnification pursuant to this Article X. (e) The Indemnified Party shall not consent to the entry of a judgment or enter into any settlement with respect to any matter which may give rise to a claim for indemnification against any indemnifying party under this Section 7, then the indemnified party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior written consent of the indemnified partyIndemnifying Party, which consent may not be unreasonably withheld or delayed; provided, however, that: (i) that if the indemnifying party shall pay or cause Indemnifying Party has failed to provide indemnification required to be paid all amounts arising out of provided pursuant to this Article X for fifteen days after a request therefor, then the Indemnified Party may take any such settlement or judgment concurrently with action without the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets consent of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party ClaimIndemnifying Party. (cf) So long as the indemnifying party is conducting the defense of the Third The Indemnifying Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will shall not consent to the entry of a judgment with respect to any judgment matter which may give rise to a claim for indemnification or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect to the Third Party Claim thereto, without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 2 contracts

Samples: Stock Purchase Agreement (Smith Micro Software Inc), Stock Purchase Agreement (Aladdin Systems Holdings Inc)

Matters Involving Third Parties. (a) 15.6.1 If any third party shall notify any indemnified party with respect to any matter (a "Party receives notice of a Third Party Claim") which Claim that may give rise to a right to claim for indemnification against any indemnifying party other Party under this Section 76.7, 6.9, 15.2 or 15.3, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided, however, that failure to give timely notice shall not affect the right to indemnification to the extent such failure to give timely notice is not prejudicial to the Indemnifying Party. (b) Any indemnifying party 15.6.2 The Indemnifying Party, in accordance with the procedures set forth in Section 15.7 will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from assume and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts conduct the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense with counsel of any such claim, the indemnifying party shall select counsel its choice reasonably acceptable satisfactory to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified partyIndemnified Party; provided, however, that: (i) that the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Indemnifying Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld withheld) unless the judgment or delayed. Each indemnified party shall, and proposed settlement involves only the payment of money damages which shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended be paid by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books Indemnifying Party and records reasonably requested by does not impose an injunction or other equitable relief upon the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions Indemnified Party. As provided in Section 7.5(b) and 7.5(c) above are or become unsatisfied or 15.7, the indemnifying party does not Indemnifying Party may assume the defense of such a Third Party Claim, at the Indemnifying Party’s cost and expense, without also accepting and agreeing to the claim for indemnification described in the related Claim Notice. 15.6.3 Unless and until the Indemnifying Party assumes the defense of the Third Party Claim as provided in Section 15.6.2, the Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate for the first instance, (i) account of the indemnified party Indemnifying Party. 15.6.4 In no event will have the right to defend against, and Indemnified Party consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying partyIndemnifying Party, which consent shall not to be unreasonably withheld withheld, delayed or delayed conditioned. 15.6.5 The Indemnified Party agrees, at its cost and expense, to cooperate with the Indemnifying Party and its counsel in contesting any Third Party Claim which the Indemnifying Party elects to contest, including the making of any related counterclaim or cross-complaint against any Person (ii) other than a Buyer Indemnified Party, if the indemnifying parties will reimburse Indemnified Party is a Buyer Indemnified Party, or a Seller Indemnified Party, if the indemnified party for Indemnified Party is a Seller Indemnified Party). 15.6.6 The Party that is conducting the costs of defending defense against the Third Party Claim (including reasonable attorneys' fees shall provide the other Party such information possessed by the Party that is conducting such defense as such other Party shall reasonably request with respect to the Third Party Claim and expenses)the defense thereof.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Tesoro Corp /New/)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7Article VII, then the indemnified party Indemnified Party shall promptly (but in any event within two months) notify each indemnifying party Indemnifying Party thereof in writing; provided, --------- however, that no delay on the part of the Indemnified Party in notifying any ------- Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party (or, if appropriate, the Company) against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other specific performance order (or similar equitable relief that relief), (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; diligently and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and at its affiliates, directors, officers, employees and agents with respect to such Third Party Claimsole cost. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(S)7.04(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b7.04(b) above is or becomes unsatisfied, however, (A) the Indemnified Party shall, actively and diligently, defend against the Third Party Claim in a prudent manner, and (B) assuming that the Indemnified Party has complied with clause (A) above, the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article 7. In addition, the Indemnifying Party may retain separate co- counsel (at its sole cost and expense) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume participate in the defense of the Third Party Claim. Furthermore, in the event the Indemnifying Party was offered the defense of the Third Party Claim but failed to satisfy the conditions of clauses (A), (B), and/or (E) of Section 7.04(b) above, the Indemnified Party shall have the right to consent to the entry of any reasonable judgment or enter into any reasonable settlement with respect to such Third Party Claim without needing to obtain any consent from any Indemnifying Party in connection therewith (although the Indemnified Party shall be required to consult with the Indemnifying Party with respect to such Third Party Claim). However, in the first instanceevent that the Indemnified Party took over the defense of the Third Party Claim notwithstanding the satisfaction of the conditions set forth in clauses (A), (iB) and (E) of Section 7.04(b) above because of the indemnified party will have failure of the right Indemnifying Party to defend againstsatisfy the conditions of clauses (C) and/or (D) of said Section 7.04, and then the Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to, without the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, Indemnifying Party (which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenseswithheld).

Appears in 2 contracts

Samples: Stock Purchase Agreement (Memry Corp), Stock Purchase Agreement (Memry Corp)

Matters Involving Third Parties. (a) If any third party Third Party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which that may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 79, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is prejudiced thereby. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party notifies the indemnified party in writing within 20 fifteen (15) days after receiving such notice, the indemnified party has given Indemnifying Party shall give written notice of to the Indemnified Party stating whether it disputes the claim for indemnification and whether it will defend against any Third Party Claim that the indemnifying party will indemnify the indemnified party from or liability at its own cost and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; expense, (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, settlement of, or an adverse judgment with respect to, and the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iii) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If ; provided that if the indemnifying party assumes claim is one that cannot by its nature be defended solely by the Indemnifying Party, the Indemnified Party shall make available all information and assistance reasonably available and necessary for the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), as the indemnifying party Indemnifying Party may reasonably request and shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently cooperate with the effectiveness thereof; (ii) Indemnifying Party in such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimdefense. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above9.7(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnifying Party (which consent shall not to unreasonably be unreasonably withheld or delayed. Each indemnified party shallwithheld), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by unless written agreement is obtained releasing the indemnifying party pursuant Indemnified Party from all liability thereunder and such judgment or settlement is not reasonably likely to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by have a material adverse effect on the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by operations of the indemnifying party for investigations, depositions and trialIndemnified Party or any of its Affiliates. (d) In the event any of the conditions in Section 7.5(b9.7(b) and 7.5(c) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the reasonable costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party will remain responsible for any Losses the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 9.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Connecticut Light & Power Co), Stock Purchase Agreement (Connecticut Light & Power Co)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Buyer (the "Indemnified ----------- Party") with respect to any matter (a "Third Party Claim") which may ----- ----------------- give rise to a claim for indemnification against any indemnifying party of the Sellers (each, an "Indemnifying Party") under this Section 7, then the indemnified party ------------------ Indemnified Party shall promptly notify each indemnifying party thereof the Stockholders Representative, as defined below, in writing; provided, however, that -------- ------- no delay on the part of the Indemnified Party in notifying the Stockholder Representative shall relieve an Indemnifying Party from any obligation hereunder unless and then solely to the extent the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party The Stockholder Representative will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Stockholder Representative notifies the indemnified party Indemnified Party in writing within 20 ten (10) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Parties will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the estimated amount of the Third Party Claim, together with all other Third Party Claims made against the Indemnified Party, whether or not such claims have been settled, is less that the Indemnity Maximum, (C) the Stockholder Representative provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Stockholder Representative will have the financial resources to defend against the Third Party Claim and fulfill the indemnification obligations hereunder, (D) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (E) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiF) the indemnifying party Stockholder Representative conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Stockholder Representative is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7(c)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyStockholder Representative, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably, and shall cause each (C) the Stockholder Representative will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party, not to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialbe withheld unreasonably. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c7(c)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to and the prior written Indemnified Party need not consult with, or obtain any consent of from, any Indemnifying Party or the indemnifying party, which consent shall not to be unreasonably withheld or delayed Stockholder Representative in connection therewith and (iiB) the indemnifying parties Indemnifying Parties will reimburse remain responsible for any Adverse Consequences the indemnified party for Indemnified Party may suffer resulting from, arising out of, relating to, in the costs of defending against nature of, or caused by the Third Party Claim (including reasonable attorneys' fees and expenses)to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Lexar Media Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Person (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Person (the "Indemnifying Party") under this Section 7ss.10, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party or its representative, as applicable, thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages costs, losses and expenses the indemnified party Indemnified Party may suffer resulting from from, arising out of or caused by the Third Party Claim; Claim (iisubject to the limits of liability described in this ss.10), (B) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (C) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedent, custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiD) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(bss.10(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended without the prior written consent of the Indemnified Party (not to be withheld unreasonably); provided, that the Indemnified Party shall consent to any settlement with respect to a Third Party Claim where the settlement involves only the payment of money damages and the amount thereof is fully paid by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnifying Party. (div) In the event any of the conditions in Section 7.5(b) and 7.5(css.10(d) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however: (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), subject to the limitations of its liability authorized in this ss.10, and (C) the Indemnifying Party will remain responsible for any Claims the Indemnified Party may suffer resulting from, arising out of or caused by the Third Party Claim, subject to the limitations of its liability contained in this ss.10. (v) The Company hereby appoints, and by adopting and approving this Agreement and Plan of Merger the Company Shareholders who are not holders of Dissenting Shares shall irrevocably appoint David L. Sansom, William D. Sutton and Craig Wolfanger (the "Rexxxxxxxxxxxxx"), xxx xxxx xx xxxx indivixxxxxx, xx xxx as their agent and attorneys-in-fact, with full power of substitution, to execute the Post Closing Escrow Agreement and the Benefit Plan Escrow Agreement in their name and to take all actions called for by this ss.10 and the Post Closing Escrow Agreement and the Benefit Plan Escrow Agreement on their behalf, all in accordance with the terms of this ss.10 and the Post Closing Escrow Agreement. If any of the Representatives dies or resigns, the remaining Representatives shall appoint a successor. (vi) In the event the Company Shareholders become obligated to indemnify the Buyer or the Surviving Corporation pursuant to ss.10(b)(i) hereof, the Representatives on behalf of the Company Shareholders shall be authorized to utilize the funds in the Post Closing Escrow Fund for the timely payment of any cost of defense incurred in connection with any such Claim.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Iron Mountain Inc /De)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party entitled to indemnification hereunder (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7, 8(d) then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, (E) the named parties to the Third Party Claim do not include both the Indemnified Party and the Indemnifying Party, and (iiiF) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section .

Appears in 1 contract

Samples: Stock Purchase Agreement (Orius Corp)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party hereto (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the “Indemnifying Party”) under this Section 7SECTION 10, then the indemnified party shall Indemnified Party will notify the Indemnifying Party thereof promptly notify each indemnifying party thereof and in writing. any event within thirty (b30) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after receiving any written notice from a third party; provided that no delay on the indemnified party part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that, the Indemnifying Party is prejudiced thereby. Once the Indemnified Party has given notice of the Third matter to the Indemnifying Party, the Indemnified Party Claim may defend against the matter in any manner it reasonably may deem appropriate. In the event the Indemnifying Party notifies the Indemnified Party after the date the Indemnified Party has given notice of the matter that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Indemnifying Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct assuming the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: matter (ia) the indemnifying party shall pay or cause to be paid all amounts arising out Indemnifying Party will defend the Indemnified Party against the matter with counsel of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply its choice reasonably satisfactory to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) aboveIndemnified Party, (ib) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate in expenses of the Indemnified Party’s separate co-counsel to the extent (but not controli) the defense Indemnified Party concludes in good faith that the counsel the Indemnifying Party has selected has a conflict of the Third Party Claim and interest, (ii) the indemnified party Indemnifying Party is not capable by reason of insufficient financial capital, bankruptcy, receivership, liquidation, managerial deadlock or similar events of maintaining a reasonable defense of such action or proceeding, or (iii) the action or proceeding seeks injunctive or other equitable relief against the Indemnified Party), (c) the Indemnified Party will not consent to the entry of any a judgment or enter into any settlement with respect to the Third Party Claim matter without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shall, delayed unreasonably) and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does Indemnifying Party will not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any a judgment with respect to the matter or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect tothereto, without the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably).

Appears in 1 contract

Samples: Asset Purchase Agreement (Craftmade International Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party other Party (the "INDEMNIFYING PARTY") under this Section 7, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; fulfill its indemnification obligations hereunder, and (iiiC) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which Indemnifying Party (such consent shall not to be unreasonably withheld unreasonably) and (C) the Indemnifying Party will not consent to the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (such consent not to Section 7.5(bbe withheld unreasonably and such consent not to be withheld at all if the judgment or settlement contains a full release reasonably satisfactory to the Indemnified Party), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c7(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)) and (C) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Facilitation Agreement (Jacmar Companies)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified ----------- Party") with respect to any matter matters (a "Third Party Claim") which may give ----- ----------------- rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7(S)8, then the indemnified party Indemnified Party shall ------------------- promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, -------- however, that no delay on the part of the Indemnified Party in notifying ------- any Indemnifying Party shall relieve the Indemnifying party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement or, or any adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(S)8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c(S)8(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs cost of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this (S)8.

Appears in 1 contract

Samples: Asset Purchase Agreement (Benthos Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7Article VII, then the indemnified party Indemnified Party shall promptly (but in any event within two months) notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in ----------------- notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party (or, if appropriate, the Company) against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other specific performance order (or similar equitable relief that relief), (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; diligently and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and at its affiliates, directors, officers, employees and agents with respect to such Third Party Claimsole cost. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(S)7.04(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (iC) the indemnified party Indemnifying Party will have the right to defend against, and not consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld unreasonably). (d) In the event any of the conditions in (S)7.04(b) above is or delayed and becomes unsatisfied, however, (iiA) the indemnifying parties will reimburse the indemnified party for the costs of defending Indemnified Party shall, actively and diligently, defend against the Third Party Claim in a prudent manner, and (including B) assuming that the Indemnified Party has complied with clause (A) above, the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article 7. In addition, the Indemnifying Party may retain separate co-counsel (at its sole cost and expense) and participate in the defense of the Third Party Claim. Furthermore, in the event the Indemnifying Party was offered the defense of the Third Party Claim but failed to satisfy the conditions of clauses (A), (B), and/or (E) of Section 7.04(b) above (other than as described in the immediately following sentence), the Indemnified Party shall have the right to consent to the entry of any reasonable attorneys' fees judgment or enter into any reasonable settlement with respect to such Third Party Claim without needing to obtain any consent from any Indemnifying Party in connection therewith (although the Indemnified Party shall be required to consult with the Indemnifying Party with respect to such Third Party Claim). However, in the event that the Indemnified Party took over the defense of the Third Party Claim notwithstanding the satisfaction of the conditions set forth in clauses (A), (B) and expenses(E) of Section 7.04(b) above because of the failure of the Indemnifying Party to satisfy the conditions of clauses (C) and/or (D) of said Section 7.04, or because the Indemnifying Party disputes its liability for this matter in good faith, then the Indemnified Party shall not consent to the entry of any judgment or enter into any settlement without the consent of the Indemnifying Party (which consent shall not be unreasonably withheld).

Appears in 1 contract

Samples: Stock Purchase Agreement (Memry Corp)

Matters Involving Third Parties. (a) If any third party Third Party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7other Party (the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify assume the indemnified party from and defense of such Third Party Claim, (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; Claim and fulfill its indemnification obligations, (iiiii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnifying Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) aboveClaim, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in the defense of the Third Party Claim. (but not controlc) In the event any of the conditions in Subparagraph 6.04(b) is or becomes unsatisfied, (i) the Indemnified Party may assume the defense of the Third Party Claim and with counsel of its choice, (ii) the indemnified party Indemnifying Parties will reimburse the Indemnified Party promptly and periodically for any Adverse Consequences suffered by the Indemnified Party in defending against the Third Party Claim, and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided by this Agreement. (d) The Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the any Third Party Claim if such settlement would obligate the Indemnifying Party to pay money (other than any deductible provided by Section 6.02(d) or 6.03(d) above), perform obligations or admit liability without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Indemnifying Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does will not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the to any Third Party Claim in any manner it reasonably may deem appropriateif such settlement would obligate the Indemnified Party to pay money, subject to perform obligations or admit liability without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably).

Appears in 1 contract

Samples: Asset Purchase Agreement (Gevity Hr Inc)

Matters Involving Third Parties. (a) a. If any third party shall notify any indemnified party Indemnified Party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7hereunder, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party b. The Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 business days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against any Adverse Consequences the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified partyrelief; and (iii) settlement of, or an adverse judgment with respect to, the indemnifying party Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to establish a precedential custom or practice adverse to the continuing business interests of the Indemnified Party, and (iv) the Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) c. So long as the indemnifying party Indemnifying Party is conducting conduction the defense of the Third Party Claim in accordance with Section 7.5(b4(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim; (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld unreasonably); and (iii) the Indemnifying Party will not consent to the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) d. In the event any of the conditions in Section 7.5(b) and 7.5(c5 (b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instanceunsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith); (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses); and (iii) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this agreement.

Appears in 1 contract

Samples: Indemnification Agreement (IIOT-OXYS, Inc.)

Matters Involving Third Parties. (a) If any third party shall notify commence a third party Action against any indemnified party Party with respect to any matter (a "Third Party Claim") matters which may give rise to a claim for indemnification against any indemnifying party Indemnifying Party under this Section 76, then the indemnified party Party shall promptly notify each the indemnifying party Party thereof in writingwriting as soon as practicable, but in no event more than 15 calendar days after the indemnified Party shall have been served with legal process or otherwise received notice of the commencement of such Action; provided, however, that the right of the indemnified Party to indemnification shall be reduced in the event of its failure to give timely notice only to the extent the indemnifying Party is prejudiced thereby. (b) Any The indemnifying party will Party shall have the right to defend the indemnified party Party against the Third Party Claim third party Action with counsel and other representatives of its choice so long as: as (i) the indemnifying party notifies Party shall notify the indemnified party Party in writing within 20 days the 15 calendar day period after the indemnified party has given its receipt of notice of the Third Party Claim third party Action; that the indemnifying party it will indemnify the indemnified party Party from and against the entirety of any Damages damages the indemnified party Party may suffer resulting from or caused by arising out of the Third Party Claimthird party Action; and (ii) the Third indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party diligently conducts the defense of the Third Party Claim actively and diligently. If third party Action in the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent reasonable opinion of the indemnified party; provided, however, that: Party. In the event the indemnifying Party does not comply with clauses (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to preceding sentence, the indemnified party; and (iii) that a condition Party may defend against the third party Action, preserving its rights to any such settlement shall be a complete release indemnification hereunder including, without limitation, for the cost of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimdefense. (c) So long as the indemnifying party Party is diligently conducting the defense of the Third Party Claim third party Action in accordance with Section 7.5(b6.4(b) above, (i) the indemnified party Party may retain separate co-counsel counsel, at its sole cost and expense expense, and participate in (but not control) the defense of the Third Party Claim and third party Action, (ii) the indemnified party will Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim third party Action without the prior written consent of the indemnifying partyParty, which consent shall not to be unreasonably withheld or delayed. Each , (iii) the indemnified party shall, and Party shall cause each of its affiliates, directors, officers, employees and agents to, fully cooperate fully within reason with the indemnifying party in the Party’s defense of such Third third party Action including, without limitation, providing any and all required information and documents and access to representatives of the indemnified Party Claim being defended by with knowledge of issues relevant to the claim or litigation (any such activities required to discharge this obligation to cooperate shall be incurred at the sole expense of the indemnified Party), and (iv) the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does Party shall not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to third party Action without the prior written consent of the indemnifying partyindemnified Party, which consent shall not to be unreasonably withheld or delayed delayed. (d) Notwithstanding any contradiction in Section 6.4 (a) —(c), an indemnified Party shall be entitled to assume the defense of any third party Action (and (ii) the indemnifying parties will reimburse Party shall be liable for the reasonable fees and expenses incurred by the indemnified Party in defending such claim) if the third party Action seeks an order, injunction, or other equitable relief or relief for the costs of defending other than money damages against the Third indemnified Party, which the indemnified Party Claim (including reasonable attorneys' fees determines, after conferring with its counsel, cannot be separated from any related claim for money damages and expenses)which, if successful, would materially adversely affect the properties or the business of the indemnified Party; provided, however, if such equitable relief portion of such third party Action can be so separated from that for money damages, the indemnifying Party shall be entitled to assume the defense of the portion relating to money damages.

Appears in 1 contract

Samples: Asset Purchase Agreement (Precision Optics Corporation Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party a Buyer Indemnitee or Seller Indemnitee (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party the Buyer or Seller (the "Indemnifying Party") under this Section 76, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writingwriting as provided above. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from its election to defend and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If In the indemnifying party assumes event that the defense Indemnified Party shall in good faith determine that it may have available to it one or more defenses or counterclaims that are inconsistent with one or more of those that may be available to the Indemnifying Party in respect of a claim subject to indemnification hereunder, the Indemnified Party shall have the right at all times to take over and assume control of the defense, settlement, negotiations or litigation relating to any such claimclaim at the sole cost of the Indemnifying Party, provided that if the Indemnified Party does so take over and assume control, the indemnifying party Indemnified Party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of not settle such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, claim or the entry of any judgment arising from, any such Third Party Claim, litigation without the prior written consent of the indemnified party; providedIndemnifying Party, however, that: (i) the indemnifying party shall pay or cause such consent not to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimunreasonably withheld. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) abovediligently, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim Claim, and (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which such consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialwithheld. (d) In the event any of that the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party Indemnifying Party does not assume diligently conduct the defense of such Third Party Claim in the first instancedefense, (i) the indemnified party Indemnified Party may defend against the Third Party Claim and (ii) the Indemnifying Party will have remain responsible for any losses the right Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or cause by the Third Party Claim to defend againstthe extent provided in this Section 6. (e) Except with the prior written consent of the Indemnified Party, and which shall not be unreasonably withheld, no Indemnifying Party, in the defense of any such claim or litigation, shall consent to the entry of any judgment or enter into any settlement if such judgment or settlement provides for injunctive or other nonmonetary relief affecting the Indemnified Party or that does not include as an unconditional term thereof the giving by each claimant or plaintiff to such Indemnified Party of a release from all liability with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld such claim or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)litigation.

Appears in 1 contract

Samples: Securities Purchase Agreement (BNS Co)

Matters Involving Third Parties. (a) If any third party shall will notify any indemnified Indemnified Party of any third party with respect to claim, demand, assessment or the commencement of any matter Litigation (each, a "Third Party Claim") which may give rise to a claim for indemnification against pursuant to this Article VIII, the Indemnified Party will promptly (and in any indemnifying party under this Section 7, then the indemnified party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing event within 20 days 10 Business Days after the indemnified party has given receiving notice of the Third Party Claim or the commencement of Litigation with respect thereto) notify the Indemnifying Party thereof in writing stating that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages may give rise to a claim for indemnification against the Indemnifying Party and does not seek an injunction or other equitable relief that is likely specifying the facts constituting the basis for such claim and the amount, both to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense extent known, of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified partyclaim asserted; provided, however, that: that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (b) The Indemnifying Party will have the right to assume the defense against any Third Party Claim by providing written notice (i) within 30 days after receipt of notice of the indemnifying party shall pay Third Party Claim, or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does at any time if the Indemnified Party is not involve conducting the encumbrance defense of any assets a Third Party Claim in a reasonably diligent manner, which the Indemnifying Party may conduct with counsel of the indemnified party or include any restriction that would apply its choice reasonably satisfactory to the indemnified party; Indemnified Party and (iii) that which the Indemnifying Party may control so long as the Indemnifying Party conducts such defense in a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimreasonably diligent manner. (c) So long as From and after the indemnifying party date that the Indemnifying Party has assumed and is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above8.5(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (in, but not control, the defense of the Third Party Claim; (ii) the Indemnifying Party and the Indemnified Party will cooperate fully with each other and their respective counsel in connection with the defense, negotiation or settlement of any such Third Party Claim, including providing access to any relevant books and records, properties, employees and Representatives; provided, however, that, for avoidance of doubt, the foregoing will not require any Party to waive, or take any action which has the effect of waiving, its attorney-client privilege with respect thereto; and (iii) the Indemnifying Party will not consent to the entry of any judgment on or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnified Party (which will not be unreasonably withheld, conditioned or delayed) unless the judgment or proposed settlement involves only the payment of money damages by the Indemnifying Party and does not impose an injunction or other equitable relief upon the Indemnified Party. ATI-2587197v29 69 (d) In the event that the Indemnifying Party has not assumed the defense of the Third Party Claim and after notice thereof, (i) the Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate; (ii) the indemnified party Indemnifying Party will reimburse the Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys’ fees and expenses) to the extent such costs are Damages for which the Indemnified Party is actually entitled to indemnification hereunder; and (iii) the Indemnifying Party will remain responsible for any costs the Indemnified Party may incur resulting from the Third Party Claim to the extent such costs are Damages for which the Indemnified Party is actually entitled to indemnification hereunder; and ; and (iv) the Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnifying Party (which consent shall will not to be unreasonably withheld withheld, conditioned or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in ). (e) In conducting the defense of a Third Party Claim and negotiating any settlement in respect thereof, the Indemnifying Party or the Indemnified Party, as the case may be, shall keep the other Party reasonably informed of all material developments and consult with the other Party in good faith regarding the potential impact on such other Party’s business and relationship with Governmental Authorities, customers, and other third parties, and alternatives to resolve such Third Party Claim being defended by taking into consideration the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books interests of both the Indemnifying Party and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnified Party. (df) In Notwithstanding any provision of this Section 9.5 to the event contrary, any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in relating to Taxes or Tax Returns shall be governed by the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry provisions of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)Section 6.15.

Appears in 1 contract

Samples: Master Acquisition Agreement (Esterline Technologies Corp)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which that may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 79, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced thereby. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b9.4(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c9.4(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 9. (e) Notwithstanding anything contained in this Section 9 to the contrary, if a full and unconditional settlement offer solely for money damages is made by the applicable third party involved in the Third Party Claim, as to which offer the Indemnifying Party notifies the Indemnified Party in writing of the Indemnifying Party's willingness to accept, and the Indemnified Party declines to accept such settlement offer, the Indemnified Party may continue to contest such claim, free of any participation by the Indemnifying Party, at the Indemnified Party's sole expense, and the amount of any ultimate liability with respect to which the Indemnifying Party has any obligation to pay under this Section 9 shall be equal to the lesser of: (i) the amount of the settlement offer that the Indemnified Party declined to accept; or (ii) the ultimate loss incurred by the Indemnified Party.

Appears in 1 contract

Samples: Stock Purchase Agreement (Rocky Mountain Internet Inc)

Matters Involving Third Parties. (a) If any third Third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7other Party (the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party Claim so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party party Claim that the indemnifying Indemnifying Party will assume the defense of such Third party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party party Claim and fulfill its indemnification obligations, (iii) the Third party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third party Claim is not, in the good faith judgment of the Indemnifying Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third party Claim, the Indemnified Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third party Claim. (c) In the event any of the conditions in Subparagraph 6.04 (b) is or becomes unsatisfied, (i) the Indemnified Party may assume the defense of the Third party Claim and with counsel of its choice, (ii) the indemnified Indemnifying Parties will reimburse the Indemnified Party promptly and periodically for any Adverse Consequences suffered by the Indemnified Party in defending against the Third party Claim, and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third party Claim to the fullest extent provided by this Agreement. (d) The Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to any Third party Claim if such settlement would obligate the Third indemnifying Party Claim to pay money, perform obligations or admit liability without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Indemnifying Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does will not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect toto any Third party Claim if such settlement would obligate the Indemnified Party to pay money, the Third Party Claim in any manner it reasonably may deem appropriate, subject to perform obligations or admit liability without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably).

Appears in 1 contract

Samples: Purchase Agreement (Certified Services Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third ----------------- ----- Party Claim") which may give rise to a claim for ----------- indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the -------- ------- Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fourteen (14) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c8(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 8.

Appears in 1 contract

Samples: Merger Agreement (Southwest Water Co)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced by such delay. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance the manner described above, it will be bound by the results obtained by the Indemnified Party with this Section 7.5(b), respect to the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without . In the prior consent of event the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party ClaimClaim does seek an injunction or other equitable relief, this Section 8.3(b) will not apply. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without obtaining (A) an entry of dismissal, with prejudice, or an entry of dismissal, without prejudice and a covenant not to xxx (if legal action is instituted), (B) the full and unconditional release of the Indemnifying Party from all liability in respect of such Third Party Claim and (C) the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliatesany judgment or enter into any settlement with respect to the Third Party Claim without obtaining (A) an entry of dismissal, directorswith prejudice, officersor an entry of dismissal, employees without prejudice and agents toa covenant not to xxx (if legal action is instituted), cooperate fully with (B) the indemnifying party full and unconditional release of the Indemnified Party from all liability in the defense respect of such Third Party Claim being defended by and (C) the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b8.3(b) and 7.5(cis or becomes unsatisfied, or if Section 8.3(b) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instanceapply, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Article VIII.

Appears in 1 contract

Samples: Purchase Agreement (Icg Communications Inc /De/)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party Indemnified Party with respect to any matter (a "Third “Third-Party Claim") which may give rise that is subject to a claim for indemnification against any indemnifying party by an Indemnifying Party under this Section 711, then the indemnified party Indemnified Party shall promptly (and in any event within ten Business Days after receiving notice of the Third-Party Claim) notify each indemnifying party the Indemnifying Party thereof in writingwriting (a “Notice”); provided, however, that failure to give such Notice shall not limit the right of an Indemnified Party to recover hereunder from any Indemnifying Party except to the extent that such Indemnifying Party can demonstrate actual loss or actual prejudice (and in any event, solely to the extent of such loss or prejudice) as a result of such failure. (b) Any indemnifying party Without limiting any rights of the insurer under the RWI Policy, as between the Indemnified Party and the Indemnifying Party, in the case of any Third-Party Claims for which indemnification is sought, the Indemnifying Party shall be entitled at its cost and expense to (i) conduct and control any proceedings or negotiations with such third party, (ii) perform and control or direct the performance of any required activities, (iii) take all other steps to settle or defend any such claim (provided that the Indemnifying Party shall not settle any such claim without the consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed) unless the settlement includes a complete release of the Indemnified Party with respect to the claim and no additional obligation, restriction or Damages shall be imposed on the Indemnified Party other than solely the payment of money damages for which the Indemnified Party will be indemnified hereunder), and (iv) employ counsel to contest any such claim or liability; provided, that the Indemnifying Party shall not have the right to defend assume control of such defense, if the indemnified party against claim for which the Third Indemnifying Party seeks to assume control: (A) seeks non‑monetary relief (except where non‑monetary relief is merely incidental to a primary claim or claims for monetary damages), (B) involves criminal allegations, or (C) involves a claim for which, upon petition by the Indemnified Party, the appropriate court rules that the Indemnifying Party failed or is failing to vigorously prosecute or defend. The Indemnifying Party shall, within 30 days after delivery of the Notice to Indemnifying Party (or sooner, if the nature of the Third-Party Claim so long as: requires) (i) the indemnifying party notifies “Dispute Period”), notify the indemnified party in writing within 20 days after Indemnified Party of its intention as to the indemnified party conduct and control of the defense of such claim, provided that the Indemnified Party and its counsel shall cooperate with the Indemnifying Party and its counsel. Until the Indemnified Party has given received notice of the Third Indemnifying Party’s election whether to defend any claim, the Indemnified Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party shall take reasonable steps to defend (but may suffer resulting from or caused by the Third Party Claim; (iinot settle) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligentlysuch claim. If the indemnifying party assumes Indemnifying Party shall decline to assume the defense of any such claim, or the indemnifying party Indemnifying Party shall select counsel reasonably acceptable fail to notify the indemnified party Indemnified Party within the Dispute Period of the Indemnifying Party’s election to conduct the defense of defend such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b)claim, the indemnifying party Indemnified Party shall be authorized to consent to a settlement of, or defend against such claim (provided that the entry of any judgment arising from, any Indemnified Party shall not settle such Third Party Claim, claim without the prior consent of the indemnified party; providedIndemnifying Party (which consent shall not be unreasonably withheld, however, that: (iconditioned or delayed)) and the indemnifying party shall pay or cause to be paid all amounts arising out Indemnifying Party will remain responsible for any Damages the Indemnified Party may suffer as a result of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply Third-Party Claim to the indemnified party; and (iii) that a condition extent subject to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimindemnification under this Section 11. (c) So long as For the indemnifying party is conducting the defense avoidance of the Third Party Claim in accordance with Section 7.5(b) abovedoubt, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense event that any conflict arises between the provisions of such Third Party Claim being defended by this Section 11.6 11.6(c) and the indemnifying party pursuant to provisions of Section 7.5(b12.1(c), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialprovisions of Section 12.1(c) shall govern. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 1 contract

Samples: Securities Purchase Agreement (Circor International Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified notifies a party entitled to indemnification under this Article VII (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying another party to this Agreement under this Section 7Article VII (the “Indemnifying Party”), then the indemnified party Indemnified Party shall use reasonable efforts to notify the Indemnifying Party thereof promptly notify each indemnifying party thereof and in writing. any event within ten (b10) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 calendar days after the indemnified party has given receiving any written notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified third party; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that: , the Indemnifying Party is actually prejudiced thereby. (ib) Once the indemnifying party shall pay or cause Indemnified Party has given notice of the matter to be paid all amounts arising out the Indemnifying Party, the Indemnified Party may, subject to the Indemnifying Party’s rights to assume the defense of such settlement or judgment concurrently with matter pursuant to paragraph (c) below, defend against the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of matter in any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimmanner it deems reasonably appropriate. (c) So long as the indemnifying party is conducting The Indemnifying Party may at any point in time choose to assume the defense of the Third Party Claim all of such matter, in accordance with Section 7.5(b) above, which event: (i) the indemnified party Indemnifying Party shall defend the Indemnified Party against the matter with counsel of its choice reasonably satisfactory to the Indemnified Party; (ii) the Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party shall be responsible for the reasonable fees and participate expenses of one separate co-counsel for all Indemnified Parties to the extent the Indemnified Party is advised, in writing by its counsel, that either (but not controlx) the counsel the Indemnifying Party has selected has a conflict of interest, or (y) there are legal defenses available to the Indemnified Party that are different from or additional to those available to the Indemnifying Party); and (iii) the Indemnifying Party shall reimburse the Indemnified Party for the reasonable costs of defense or investigation for the period prior to the assumption of the defense. (d) Assumption of the defense of any matter by the Third Indemnifying Party Claim and shall without further action constitute an irrevocable waiver by the Indemnifying Party of its right to claim at a later date that such third party action for which the defense was assumed is not a proper matter for indemnification pursuant to this Article VII. (iie) the indemnified party will The Indemnified Party shall not consent to the entry of any a judgment or enter into any settlement with respect to the Third Party Claim any matter which may give rise to a claim for indemnification without the prior written consent of the indemnifying partyIndemnifying Party, which consent may not be unreasonably withheld or delayed. (f) The Indemnifying Party shall not consent to the entry of a judgment with respect to any matter which may give rise to a claim for indemnification or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect thereto, without the written consent of the Indemnified Party (not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 1 contract

Samples: Asset Purchase Agreement (Jupitermedia Corp)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified xl Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, the indemnifying party it shall be authorized to consent to a settlement of, or bound by the entry of any judgment arising from, any such Third results obtained by the Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and (iii) the Indemnifying Party shall cause each not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties will Indemnifying Party shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party shall remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party to this Agreement (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying other party to this Agreement (the "INDEMNIFYING PARTY") under this Section 711, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 twenty (20) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against any Adverse Consequences the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from or that are caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to provided it obtains the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and unreasonably), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party for the costs of Indemnified Party's out-of-pocket expenses incurred in defending against the Third Party Claim upon receipt of a monthly invoice provided by the Indemnified Party, and (including reasonable attorneys' fees and expensesiii) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer as a result of the Third Party Claim to the fullest extent provided in this Section 11. (e) Notwithstanding anything contained in this Section 11.5, the Indemnified Party shall advance one-half of the out-of-pocket expenses incurred by the Indemnifying Party in the defense of any third-party claim under this Section 11.5, upon receipt of a monthly invoice provided by the Indemnifying Party or, in the event that the Indemnified Party is defending the third party claim in accordance with Section 11.5(d) above, the Indemnifying Party shall, in lieu of its obligations under 11.5(d)(ii), reimburse the Indemnified Party for one-half of the Indemnified Party's out-of-pocket expenses incurred in defending against the Third Party Claim upon receipt of a monthly invoice provided by the Indemnified Party. Upon any final resolution of the third-party claim, the Indemnified Party shall be entitled to (i) a refund from the Indemnifying Party of all advances made in accordance with this Section 11.5(e) or, (ii) in the event that the Indemnified Party is defending the third party claim in accordance with Section 11.5(d) above, payment from the Indemnifying Party of the remaining one-half of the out-of-pocket expenses invoiced to the Indemnifying Party pursuant to Section 11.5(d)(ii) above, unless the claim is conclusively determined not to be subject to indemnification hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Cobalt Group Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, it will be bound by the indemnifying party shall be authorized to consent to a settlement of, or results obtained by the entry of any judgment arising from, any such Third Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (iiii) the indemnified party Indemnifying Party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).not

Appears in 1 contract

Samples: Purchase Agreement (Signalsoft Corp)

Matters Involving Third Parties. (ai) If any third party Person other than a Party or an Affiliate of a Party or successor thereto shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is prejudiced by such delay. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim Claim, that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against any Adverse Consequences the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from or caused by the Third Party Claim; , and (iiB) the Third Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimreasonable diligence. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(e)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shall), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe unreasonably withheld or delayed), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c8(e)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense becomes unsatisfied, however, and provided written notice of such Third is provided to the Indemnifying Party Claim in the first instance, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, or caused by the Third Party Claim to the fullest extent provided in this Section 8.

Appears in 1 contract

Samples: Asset Purchase Agreement (Fairwood Corp)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7(section)7, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby forfeits material substantive rights or defenses or is otherwise materially prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; fulfill its indemnification obligations hereunder and (iiiC) the indemnifying party Indemnifying Party diligently conducts the defense of the Third Party Claim actively and diligentlyClaim. If Any Indemnifying Party will have the indemnifying party assumes right to settle any action defended by the defense of any such claimIndemnifying Party, provided that settlement of, or an adverse judgment with respect to, the indemnifying party shall select counsel reasonably acceptable Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to establish a precedential custom or practice materially adverse to the indemnified party to conduct continuing business interests of the defense of such Third Indemnified Party Claim. If the indemnifying party shall have assumed the defense of (it being understood that any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to involving a settlement of, person or the entry of any judgment arising from, any such Third Party Claim, without the prior consent entity which is a customer or supplier of the indemnified party; providedBuyer following the Closing, however, that: (i) will be deemed to involve the indemnifying party shall pay or cause to be paid all amounts arising out possibility of such settlement a precedential custom or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimpractice). (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(section)7(e)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without and (C) the prior written Indemnifying Party may consent to the entry of any judgment or enter into any settlement with respect to the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim if such judgment or settlement is not, in the good faith judgment of the Indemnified Party, likely to establish a precedential custom or practice materially adverse to the continuing business interest of the Indemnified Party (it being defended by understood that any Third Party Claim involving a person or entity which is a customer or supplier of the indemnifying party pursuant Buyer following the Closing, will be deemed to Section 7.5(binvolve the possibility of such a precedential custom or practice), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c(section)7(e)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Damages the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this (section)7.

Appears in 1 contract

Samples: Asset Purchase Agreement (Transpro Inc)

Matters Involving Third Parties. (a) If Parent or the Surviving Corporation or any third party shall notify any indemnified party with respect to Shareholder receives notice or acquires knowledge of any matter (a "Third Party Claim") which may give rise to a claim by another person and which may then result in a claim for indemnification against any indemnifying party under this Section 7Article VI, then (i) if such notice or knowledge is received or acquired by Parent or the indemnified party Surviving Corporation, Parent or the Surviving Corporation shall promptly notify each indemnifying the Shareholders' Agent thereof, and (ii) if such notice or knowledge is received or acquired by any Shareholder, such Shareholder shall promptly notify Parent or the Surviving Corporation and the Shareholders' Agent thereof; except that no delay in giving such notice shall diminish any obligation under this Article VI to provide indemnification unless (and then solely to the extent) the party thereof in writingfrom whom such indemnification is sought is prejudiced. (b) Any indemnifying party will from whom such indemnification is sought (the "Indemnifying Party") shall have the right to defend defend, at the indemnified Indemnifying Party's cost, risk and expense, the party seeking such indemnification (the "Indemnified Party") against any such claim by another person (the "Third Party Claim Claim") with counsel of the Indemnifying Party's choice (subject to the Indemnified Party's written consent) reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party notifies the indemnified party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim to the Indemnifying Party, the Indemnifying Party notifies the Indemnified Party that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against all Adverse Consequences the entirety of any Damages the indemnified party Indemnified Party may suffer caused by, resulting from from, arising out of or caused by relating to such Third Party Claim, (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably satisfactory to the Indemnified Party that the Indemnifying Party has the financial resources necessary to defend against the Third Party Claim; Claim and fulfill its indemnification obligations thereunder, (iiiii) the Third Party Claim involves seeks only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, 37 39 or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedent, custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above6.05(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which consent and (iii) the Indemnifying Party shall not consent to be unreasonably withheld the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by prior consent of the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnified Party. (d) In the event If any of the conditions specified in Section 7.5(b6.05(b) and 7.5(c) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateadvisable (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties will Indemnifying Parties shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' and accountants' fees and expenses), and (iii) the Indemnifying Party shall remain responsible for any Adverse Consequences the Indemnified Party may suffer caused by, resulting from, arising out of or relating to such Third Party Claim to the extent provided in this Article VI.

Appears in 1 contract

Samples: Merger Agreement (BMG North America LTD)

Matters Involving Third Parties. (a) If In connection with any third party shall notify any indemnified party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7, then the indemnified party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against such Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party provided that: (i) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) fulfill its indemnification obligations hereunder, A. the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, B. settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; and (iii) continuing business interests of the indemnifying party Indemnified Party, and C. the Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (cii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) subsection: A. the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) Claim, and B. the indemnified party Indemnifying Party will not determine whether to consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without subject to the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(bunreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (diii) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, clause (i) above is or becomes unsatisfied, however, A. the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to or obtain any consent from, any Indemnifying Party in connection therewith), B. the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the reasonable costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and C. the Indemnifying Parties will remain responsible for any Damages the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section.

Appears in 1 contract

Samples: Purchase Agreement (Provident American Corp)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party hereto (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the "Indemnifying Party") under this Section 79, then the indemnified party shall promptly Indemnified Party will notify each indemnifying party the Indemnifying Party thereof in writing. (b) Any indemnifying writing promptly and in any event within 10 days after receiving any written notice from a third party stating the nature and basis of any claim made by the third party; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that, the Indemnifying Party is prejudiced thereby. The Indemnified Party shall provide to the Indemnifying Party on request all information and documentation reasonably necessary to support and verify any Losses which the Indemnified Party believes give rise to a claim for indemnification hereunder and shall give the Indemnifying Party reasonable access to all books, records and personnel in the possession or under the control of the Indemnified Party which would have bearing on such claim. In the right to defend event the indemnified party against the Third Indemnifying Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing Indemnified Party within 20 30 days after the indemnified party date the Indemnified Party has given notice of the Third Party Claim matter that the indemnifying party Indemnifying Party is assuming the defense of such matter (i) the Indemnifying Party will indemnify defend the indemnified party from and Indemnified Party against the entirety matter with counsel of any Damages its choice reasonably satisfactory to the indemnified party may suffer resulting from or caused by the Third Party Claim; Indemnified Party, (ii) the Third Indemnified Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate expenses of such separate co-counsel to the extent the Indemnified Party reasonably concludes in good faith that the Indemnified Party has defenses available to it that may conflict with those of the Indemnifying Party), (but not controliii) the defense of the Third Indemnified Party Claim and (ii) the indemnified party will not consent to the entry of any judgment a judgement or enter into any settlement with respect to the Third Party Claim matter without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shalldelayed unreasonably), and shall cause each (iv) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully a judgement with respect to the indemnifying party matter or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the defense of such Third matter releases the Indemnified Party Claim being defended by from all liability with respect thereto, without the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any written consent of the conditions in Section 7.5(b) and 7.5(c) above are Indemnified Party (not to be withheld or become unsatisfied or delayed unreasonably). If the indemnifying party Indemnifying Party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect tomatter, the Third Indemnified Party Claim may defend against the matter in any manner it reasonably may deem appropriate, subject and (i) the Indemnified Party will defend the matter with counsel of its choice reasonably satisfactory to the prior Indemnifying Party, (ii) the Indemnifying Party may retain separate counsel at its sole cost and expense, and (iii) the Indemnified Party will not consent to the entry of a judgement or enter into any settlement with respect to the matter without the written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably). (b) The provisions of paragraph (a) of this Section 9.4 shall apply to all claims for indemnification hereunder except indemnification claims which involve Tax matters pertaining to Terex B.V. and/or the Subsidiaries, which claims shall be governed by Article 10.

Appears in 1 contract

Samples: Share Purchase and Sale Agreement (Terex Corp)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 79, then the indemnified party Indemnified Party shall promptly (and in any event within ten business days after receiving notice of the Third Party Claim) notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days (or earlier in the event the underlying Third Party claim requires action) after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the 62 Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b9.4(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld unreasonably) and (C) the Indemnifying Party will not consent to the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c9.4(ii) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancefail to be complied with, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 9, subject to the limitations set forth in this Section 9. (v) Notwithstanding anything to the contrary contained in this Section 9, TeamStaff shall have the right to settle and pay any Third Party Claim if, in the determination of its Board of Directors and counsel, evidenced by written notice to the BrightLane Representative, settlement of the Third Party claim is in the best interests of TeamStaff.

Appears in 1 contract

Samples: Merger Agreement (Brightlane Com Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the “Indemnifying Party”) under this Section 7Article 10, then the indemnified party Indemnified Party shall promptly (and in any event within five (5) Business Days after receiving notice of the Third Party Claim) notify each indemnifying party Indemnifying Party thereof in writing, describing the claim, the amount thereof (if known and quantifiable) and the basis of the claim; provided, that the failure of the Indemnified Party to provide such notice shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent that such failure to give notice shall prejudice any defense or claim available to the Indemnifying Party. (b) Any indemnifying party Indemnifying Party shall be entitled to participate in the defense of such Third Party Claim at such Indemnifying Party’s expense, and at its option will have the right at any time to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from assume and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts thereafter conduct the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense with counsel of any such claim, the indemnifying party shall select counsel its choice reasonably acceptable satisfactory to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified partyIndemnified Party; provided, however, that: (i) that the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Indemnifying Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld withheld, delayed or delayed. Each indemnified party shallconditioned) unless the judgment or proposed settlement involves only the payment of money damages and does not impose an injunction or other equitable relief upon the Indemnified Party, in which case no consent will be required; provided, further, that the Indemnified Party may retain separate co-counsel at its sole cost and shall cause each of its affiliates, directors, officers, employees expense and agents to, cooperate fully with the indemnifying party participate in the defense of the Third Party Claim (it being understood, however, that the Indemnifying Party shall control such defense and shall be liable solely for the costs and expenses of counsel of its choice reasonable satisfactory to the Indemnified Party). Notwithstanding the foregoing, the Indemnifying Party will not have the right to assume and conduct the defense of a Third Party Claim, and shall pay the fees and expenses of counsel retained by the Indemnified Party in connection therewith, if (i) such Third Party Claim being defended seeks as its primary remedy a material injunction or other material equitable relief against the Indemnified Party, (ii) the Indemnified Party shall have been advised by outside counsel that there is a conflict of interests between the indemnifying party pursuant to Section 7.5(b)Indemnified Party and the Indemnifying Party, including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (diii) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim relates to or arises in connection with a criminal action, (iv) the Indemnifying Party failed or is failing to use commercially reasonable efforts to defend such Third Party Claim, or (v) such Third Party Claim has a reasonable likelihood of resulting in Losses that would exceed the amount of Losses that are indemnifiable by the Indemnifying Party hereunder. Notwithstanding the foregoing, the Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry defense of any judgment or enter into any settlement with respect to, the Third Party Claim in (it being understood, however, that the Indemnifying Party shall be liable solely for the costs and expenses of counsel of its choice reasonable satisfactory to the Indemnified Party). If the Indemnifying Party assumes the defense of any manner it reasonably may deem appropriateThird Party Claim, subject then such assumption shall not prejudice the Indemnifying Party’s right to thereafter contest the Indemnified Party’s right to indemnification for the claims asserted therein. An Indemnified Party shall not settle or compromise any Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party. The Indemnified Party will cooperate with the Indemnifying Party and its counsel in the review, which consent investigation and defense of any such claim, shall not make available its personnel, and shall provide such testimony and access to be unreasonably withheld or delayed its books and (ii) records as is reasonably requested by the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Indemnifying Party Claim (including reasonable attorneys' fees and expenses)in connection therewith.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Pacific Ethanol, Inc.)

Matters Involving Third Parties. (a) If Should any claim or Proceeding by or involving a third party arise after the Closing Date for which the Seller or Purchaser (the “Indemnifying Party”), is liable under the terms of this Agreement, the parties entitled to indemnification hereunder as the case may be (the “Indemnified Parties”) shall notify the Indemnifying Party in writing within fifteen (15) days after such claim or Proceeding arises and is known to the Indemnified Parties (provided, however, that any indemnified party failure or delay in so notifying the Indemnifying Party shall not affect the indemnification obligations of the Indemnifying Party hereunder except to the extent that such failure or delay causes actual prejudice to the Indemnifying Party), and the Indemnifying Party may elect to assume the defense of such claim or Proceeding by giving written notice to the Indemnified Parties stating that the Indemnifying Party intends to assume such defense within fifteen (15) days after receipt of notice from the Indemnified Parties of such claim or Proceeding (unless the claim or Proceeding reasonably requires a response in less than fifteen (15) days after the notice is given to the Indemnifying Party, in which event the Indemnifying Party shall notify the Indemnified Party at least five (5) Business Days prior to such reasonably required response date), and the Indemnifying Party shall thereafter assume the defense of such claim or Proceeding, through counsel reasonably satisfactory to the Indemnified Parties; provided, that the Indemnified Parties may participate in such defense at their own expense but, in any event, the Indemnifying Party shall have the right, as long as it is actively defending any claim or Proceeding, to control such defense. The Indemnified Parties shall afford counsel designated by the Indemnifying Party and other authorized representatives of the Indemnifying Party reasonable access during normal business hours to all books, records, offices and other facilities and properties of the Indemnified Parties, and to the personnel of the Indemnified Parties, and shall otherwise use all reasonable efforts to cooperate with respect the Indemnifying Party, such counsel and such other authorized representatives in connection with the exercise of the rights of the Indemnifying Party pursuant to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7, then the indemnified party shall promptly notify each indemnifying party thereof in writing9.4. (b) Any indemnifying party will have If the right Indemnifying Party elects to defend any such claim or Proceeding, the Indemnified Parties shall give the Indemnifying Party a reasonable opportunity: (i) to take part in any examination of the books and records of the Indemnified Parties; (ii) to conduct any Proceedings or negotiations in connection therewith and necessary or appropriate to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of Indemnified Parties or prosecute any Damages the indemnified party may suffer resulting from claim or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and Proceeding with respect thereto; (iii) to take all other required steps or actions to settle or defend any such claim or Proceeding; and (iv) to employ counsel to contest any such claim or Proceeding in the indemnifying party conducts the defense name of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement ofIndemnified Parties, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimotherwise. (c) So long as If the indemnifying party is conducting Indemnifying Party shall not assume the defense of of, or if after so assuming it shall fail to actively defend, any such claim or Proceeding, the Third Party Claim Indemnified Parties may defend against any such claim or Proceeding in accordance such manner as they may deem appropriate, and the Indemnified Parties may, with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which consent shall not to be unreasonably withheld withheld, settle such claim or delayed. Each indemnified party shallProceeding on such terms as presented to the Indemnifying Party, and the Indemnifying Party promptly shall cause each reimburse the Indemnified Parties for the amount of its affiliatessuch settlement and for all expenses, directorslegal and otherwise, officers, employees reasonably and agents to, cooperate fully necessarily incurred by the Indemnified Parties in connection with the indemnifying party defense against and settlement of such claim or Proceeding. If there is no settlement of any such claim or Proceeding, the Indemnifying Party shall satisfy any judgment rendered with respect to such claim or Proceeding, before the Indemnified Parties are required to do so, and pay all expenses, legal or otherwise, reasonably and necessarily incurred by the Indemnified Parties in the defense of against such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialclaim or Proceeding. (d) In If a judgment is rendered against any Indemnified Party in any claim or Proceeding covered by the event indemnification hereunder, or any Encumbrance attaches to any of the conditions assets of any Indemnified Party the Indemnifying Party immediately upon such entry or attachment shall pay such judgment in Section 7.5(b) full or discharge such Encumbrance unless, at the Indemnifying Party expense and 7.5(c) above are or become unsatisfied direction, an appeal is taken under which the execution of the judgment or the indemnifying party does not assume attachment of the defense of Encumbrance is stayed. If and when a final judgment is rendered in any such Third Proceeding, the Indemnifying Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any shall forthwith pay such judgment or enter into discharge such Encumbrance before any settlement with respect to, the Third Indemnified Party Claim in any manner it reasonably may deem appropriate, subject is compelled to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)do so.

Appears in 1 contract

Samples: Asset Purchase Agreement (Medical Transcription Billing, Corp)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 1 contract

Samples: Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party other Party (the "INDEMNIFYING PARTY") under this Section 7, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c7(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 7. (v) Notwithstanding anything contained in this Section 7(d), in no event shall the liability to or obligation to indemnify any other Party of any Transferor exceed the value of his ownership interest in the Transferee.

Appears in 1 contract

Samples: Exchange Agreement (Paradise Music & Entertainment Inc)

Matters Involving Third Parties. (a) If any third party shall will notify any indemnified Indemnified Party of any third party with respect to claim, demand, assessment or the commencement of any matter Litigation (each, a "Third Party Claim") which may give rise to a claim for indemnification against pursuant to this Article VIII, the Indemnified Party will promptly (and in any indemnifying party under this Section 7, then the indemnified party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing event within 20 days 10 Business Days after the indemnified party has given receiving notice of the Third Party Claim or the commencement of Litigation with respect thereto) notify the Indemnifying Party thereof in writing stating that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages may give rise to a claim for indemnification against the Indemnifying Party and does not seek an injunction or other equitable relief that is likely specifying the facts constituting the basis for such claim and the amount, both to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense extent known, of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified partyclaim asserted; provided, however, that: that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (b) The Indemnifying Party will have the right to assume the defense against any Third Party Claim by providing written notice (i) within 30 days after receipt of notice of the indemnifying party shall pay Third Party Claim, or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does at any time if the Indemnified Party is not involve conducting the encumbrance defense of any assets a Third Party Claim in a reasonably diligent manner, which the Indemnifying Party may conduct with counsel of the indemnified party or include any restriction that would apply its choice reasonably satisfactory to the indemnified party; Indemnified Party and (iii) that which the Indemnifying Party may control so long as the Indemnifying Party conducts such defense in a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimreasonably diligent manner. (c) So long as From and after the indemnifying party date that the Indemnifying Party has assumed and is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above8.5(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (in, but not control, the defense of the Third Party Claim; (ii) the Indemnifying Party and the Indemnified Party will cooperate fully with each other and their respective counsel in connection with the defense, negotiation or settlement of any such Third Party Claim, including providing access to any relevant books and records, properties, employees and Representatives; provided, however, that, for avoidance of doubt, the foregoing will not require any Party to waive, or take any action which has the effect of waiving, its attorney-client privilege with respect thereto; and (iii) the Indemnifying Party will not consent to the entry of any judgment on or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnified Party (which will not be unreasonably withheld, conditioned or delayed) unless the judgment or proposed settlement involves only the payment of money damages by the Indemnifying Party and does not impose an injunction or other equitable relief upon the Indemnified Party. (d) In the event that the Indemnifying Party has not assumed the defense of the Third Party Claim and after notice thereof, (i) the Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate; (ii) the indemnified party Indemnifying Party will reimburse the Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys’ fees and expenses) to the extent such costs are Damages for which the Indemnified Party is actually entitled to indemnification hereunder; and (iii) the Indemnifying Party will remain responsible for any costs the Indemnified Party may incur resulting from the Third Party Claim to the extent such costs are Damages for which the Indemnified Party is actually entitled to indemnification hereunder; and ; and (iv) the Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnifying Party (which consent shall will not to be unreasonably withheld withheld, conditioned or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in ). (e) In conducting the defense of a Third Party Claim and negotiating any settlement in respect thereof, the Indemnifying Party or the Indemnified Party, as the case may be, shall keep the other Party reasonably informed of all material developments and consult with the other Party in good faith regarding the potential impact on such other Party’s business and relationship with Governmental Authorities, customers, and other third parties, and alternatives to resolve such Third Party Claim being defended by taking into consideration the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books interests of both the Indemnifying Party and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnified Party. (df) In Notwithstanding any provision of this Section 9.5 to the event contrary, any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in relating to Taxes or Tax Returns shall be governed by the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry provisions of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)Section 6.15.

Appears in 1 contract

Samples: Master Acquisition Agreement (Esterline Technologies Corp)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, it will be bound by the indemnifying party shall be authorized to consent to a settlement of, or results obtained by the entry of any judgment arising from, any such Third Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party shall notify commence an action, suit or claim against any indemnified party Indemnified Party with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party Indemnifying Party under this Section 7Article VI, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writingwriting as soon as practicable. (b) Any indemnifying party will The Indemnifying Party shall have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice that is reasonably acceptable to Indemnified Party, so long as: as (i) the indemnifying party notifies Indemnifying Party shall notify the indemnified party Indemnified Party in writing (within 20 10 days after the indemnified party has given its receipt of notice of the Third Party Claim Claim) that the indemnifying party it will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from or caused by arising out of the Third Party Claim; Claim and (ii) the Third Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party diligently conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b6.5(b) abovehereof, (i) the indemnified party Indemnified Party may retain separate co-counsel counsel, at its sole cost and expense expense, and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior consent of the Indemnifying Party, (iii) the Indemnified Party shall cooperate within reason with such defense and (iv) the Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnified Party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shallShould the Indemnified Party withhold consent under clause (iv) above in respect of a judgment or settlement involving only the payment of money by the Indemnifying Party, the Indemnifying Party shall have the right, upon notice to the Indemnified Party within seven days of receipt of the Indemnified Party's denial of consent, to pay to the Indemnified Party the full amount of such judgment or settlement, including all interest, costs or other charges relating thereto, and shall cause each of its affiliatespay all attorneys' fees incurred to such date for which the Indemnifying Party is obligated under this Agreement, directors, officers, employees at which time the Indemnifying Party's rights and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement obligations with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)cease.

Appears in 1 contract

Samples: Merger Agreement (Reunion Resources Co)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, it will be bound by the indemnifying party shall be authorized to consent to a settlement of, or results obtained by the entry of any judgment arising from, any such Third Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third any Indemnifying Party Claim (including reasonable attorneys' fees and expenses).in

Appears in 1 contract

Samples: Purchase Agreement (Rentx Industries Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified ------------ Party") with respect to any matter (a "Third Party Claim") which may give ------ ------------------- rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7(S)6, then the indemnified party Indemnified Party shall -------------------- promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, -------- however, that no delay on the part of the Indemnified Party in notifying ------- any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 30 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice [materially] adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(S)6 (d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which and (C) the Indemnifying Party will not consent shall to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the Indemnified Party (not to be unreasonably withheld or delayedunreasonably). Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c(S)6(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this (S)6.

Appears in 1 contract

Samples: Asset Purchase Agreement (Intellisys Group Inc)

Matters Involving Third Parties. (a) If In the event any third claim is made or suit is filed against a party shall notify any which involves or appears reasonably likely to involve a Claim for which indemnification may be sought pursuant to Section 10.3 or 10.4 hereof, such indemnified party with respect will, promptly (and in any event within ten (10) business days) after receipt of notice of any such claim, suit or proceeding, notify the indemnifying party of the commencement thereof. The failure to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against so notify any indemnifying party under this Section 7of the commencement of any such claim, then suit or proceeding will not relieve such indemnifying party from liability unless such failure adversely affects the indemnified ability of such indemnifying party to defend its interests in such claim, action or proceeding. The indemnifying party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party will have the right and shall be given the opportunity to defend assume and control the defense of such claim, suit or proceeding with counsel of its choice reasonably satisfactory to the -38- 39 indemnified party against the Third Party Claim so long as: as (i) the indemnifying party notifies the indemnified party in writing of its intention to assume and control such defense within 20 30 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from such claim, and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim such claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the that indemnified party or include any restriction that would apply to the (at indemnified party; and (iii's expense) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not controlcontrol the conduct of) all matters pertaining to the defense or settlement of such claim, suit or proceeding. Whether or not the Third Party Claim and (ii) indemnifying party elects to assume such defense, the indemnified party will shall not consent to the entry of any judgment or enter into make any settlement with respect to the Third Party Claim any such claim, suit or proceeding without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each The indemnified party shallparty's consent to the settlement of any such claim, suit or proceeding by the Stockholders shall be required and shall cause each not be unreasonably withheld or delayed, but such consent shall not be required if (or to the extent that) such settlement only requires the payment of its affiliates, directors, officers, employees and agents to, cooperate fully with a monetary amount which the indemnifying party in is able to pay and includes a full release of claims against the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialparty. (db) In the event any of the conditions in Section 7.5(bclauses (i) and 7.5(c(ii) of Section 10.5(a) above are is or become unsatisfied becomes unsatisfied, or if the indemnifying party does has elected not assume to conduct the defense of such Third Party Claim in the first instanceclaim, (i) the indemnified party will have the right to may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim such claim in any manner it reasonably may deem appropriate; provided, subject however, that the indemnified party may not enter into any settlement with respect to such claim without the prior written consent of the indemnifying party, party (which consent shall not to be unreasonably withheld or delayed delayed) if such settlement would entitle, or give rise to a claim by, the indemnified party to be paid monetary damages by the indemnifying party pursuant to this Article X, and (ii) subject to the proviso in clause (i), the indemnifying parties party will reimburse remain responsible for any damages the indemnified party for may suffer resulting from, arising out of, relating to, in the costs of defending against nature of, or caused by such claim to the Third Party Claim (including reasonable attorneys' fees and expenses).fullest extent provided in this Article X.

Appears in 1 contract

Samples: Merger Agreement (Bisys Group Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim by such Indemnified Party for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7Agreement, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof promptly; provided, however, that no delay on the part of the Indemnified Party in writingnotifying any Indemnifying Party shall relieve the Indemnifying Party from any liability or obligation hereunder unless (and then solely to the extent that) the Indemnifying Party is damaged thereby. (b) Any indemnifying party Indemnifying Party will have the right to defend assume the indemnified party defense of the Indemnified Party against the Third Party Claim with counsel of the Indemnifying Party's choice, reasonably satisfactory to the Indemnified Party, so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party in writing Indemnified Party, within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim to the Indemnifying Party (or by such earlier date as may be necessary under applicable procedural rules in order to file a timely appearance and response) that the indemnifying party Indemnifying Party is assuming the defense of such Third Party Claim and will indemnify the indemnified party from and Indemnified Party against the entirety of any Damages the indemnified party may suffer resulting from or caused by the such Third Party Claim; Claim in accordance with the terms and limitations of this Section 7.6(b), (ii) the Indemnifying Party provides the Indemnified Party with reasonable evidence that the Indemnifying Party will have the financial resources to defend against the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; fulfill its indemnification obligations hereunder with respect thereto, and (iii) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting conditions set forth in Section 7.6(b) are and remain satisfied, then (i) the Indemnifying Party may conduct the defense of the Third Third-Party Claim in accordance with Section 7.5(b) above, 7.6(b); (iii) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate in expenses of the separate co-counsel to the extent the Indemnified Party reasonably concludes that the counsel the Indemnifying Party has selected has an actual or potential conflict of interest), (but not controliii) the defense of the Third Indemnified Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld withheld, conditioned or delayed. Each indemnified party ), (iv) the Indemnifying Party will not consent to the entry of any judgment with respect to the matter, or enter into any settlement, which either imposes an injunction or other equitable relief upon the Indemnified Party or does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all Liability with respect thereto, and (v) the Indemnified Party shall, at the Indemnifying Party's reasonable request and shall cause each of its affiliates, directors, officers, employees and agents toat the Indemnifying Party's expense, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial.matter. In the (d) In If any injunction or other equitable relief is entered against the event Indemnified Party during the course of any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in Claim, if brought during the first instanceSurvival Period, and such injunction or equitable relief is not removed within ten (10) days (an "Indemnified Party Controlled Claim"), then (i) the indemnified party will have Indemnified Party may assume control of the right defense of, and, subject to defend againstthe provisions of this Section 7.6(d), and consent to the entry of any judgment or enter into any settlement with respect to, such Indemnified Party Controlled Claim; and (ii) the Third Indemnifying Parties will remain responsible in accordance with the terms and limitations of this Section 7.6 for any Buyer Indemnifiable Losses which Buyer may suffer arising out of or relating to such Indemnified Party Controlled Claim. The Indemnified Party may consent to the entry of any judgment or enter into any settlement of any Indemnified Party Controlled Claim in any manner it reasonably may deem appropriate, subject and the Indemnifying Party shall not be entitled to raise any objection in any other forum or proceeding to the prior written consent amount or appropriateness of the indemnifying party, which consent shall not to be unreasonably withheld any such judgment or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)settlement.

Appears in 1 contract

Samples: Share Purchase Agreement (Timeline Inc)

Matters Involving Third Parties. (a) If any third party shall notify commence an Action against any indemnified party Indemnified Party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 712.1, then the indemnified party Indemnified Party shall promptly notify each indemnifying party thereof the Indemnifying Party in writingwriting as soon as practicable. (b) Any indemnifying party will The Indemnifying Party shall have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice and reasonably acceptable to the Indemnified Party so long as: as (i) the indemnifying party notifies Indemnifying Party shall notify the indemnified party Indemnified Party in writing (within 20 30 days after the indemnified party has given notice its receipt of notice, in accordance with Section 15.7, of the Third Party Claim as provided in Section 12.2 or, if the Indemnifying Party has disputed the claim for indemnification, then within ten days of a final determination that such claim is a valid claim under Section 12.1) that the indemnifying party Indemnified Party will indemnify the indemnified party be entitled to indemnification under Section 12.1 hereof from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from or caused by arising out of the Third Party Claim; Claim and (ii) the Third Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party diligently conducts the defense of the Third Party Claim actively and diligentlyClaim. If It is agreed that no delay on the indemnifying party assumes part of the defense Indemnified Party in notifying any Indemnifying Party of a claim (including any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If ) will relieve the indemnifying party shall have assumed the defense of any Third Indemnifying Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized thereby unless said Indemnifying Party is prejudiced by such failure to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimgive notice. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b12.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel counsel, at its sole cost and expense expense, and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnifying Party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and (iii) the Indemnified Party shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully within reason with the indemnifying party in the Indemnifying Party's defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (iiv) the indemnified party will have the right to defend against, and Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying partyIndemnified Party, which consent shall not to be unreasonably withheld or delayed and (ii) delayed. Notwithstanding any other provision of this Section 12.3, if an Indemnified Party withholds its consent to a settlement or elects to defend any claim, where but for such action the indemnifying parties will reimburse Indemnifying Party could have settled such claim, the indemnified party Indemnifying Party shall be required to indemnify the Indemnified Party only up to a maximum of the bona fide settlement offer for which the costs of defending against the Third Indemnifying Party Claim (including reasonable attorneys' fees and expenses)could have settled such claim.

Appears in 1 contract

Samples: Merger Agreement (Screaming Media Com Inc)

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Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim by such Indemnified Party for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7Agreement, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof promptly; provided, however, that no delay on the part of the Indemnified Party in writingnotifying any Indemnifying Party shall relieve the Indemnifying Party from any liability or obligation hereunder unless (and then solely to the extent that) the Indemnifying Party is damaged thereby. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of the Indemnifying Party's choice, reasonably satisfactory to the Indemnified Party, so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party in writing Indemnified Party, within 20 fifteen (15) business days after the indemnified party Indemnified Party has given notice of the Third Party Claim to the Indemnifying Party (or by such earlier date as may be necessary under applicable procedural rules in order to file a timely appearance and response) that the indemnifying party Indemnifying Party is assuming the defense of such Third Party Claim and will indemnify the indemnified party from and Indemnified Party against the entirety of any Damages the indemnified party may suffer resulting from or caused by the such Third Party Claim; Claim in accordance with the terms and limitations of this Section 9.04, (iiB) the Indemnifying Party provides the Indemnified Party with reasonable evidence that the Indemnifying Party will have the financial resources to defend against the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; fulfill its indemnification obligations hereunder with respect thereto, and (iiiC) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party is conducting conditions set forth in Section 9.04(d)(ii) are and remain satisfied, then (A) the Indemnifying Party may conduct the defense of the Third Third-Party Claim in accordance with Section 7.5(b) above9.04(d)(ii), (iB) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate in expenses of the separate co-counsel to the extent the Indemnified Party reasonably concludes that the counsel the Indemnifying Party has selected has an actual or potential conflict of interest), (but not controlC) the defense of the Third Indemnified Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld withheld, conditioned or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (iD) the indemnified party Indemnifying Party will have the right to defend against, and not consent to the entry of any judgment with respect to the matter, or enter into any settlement which either imposes an injunction or other equitable relief upon the Indemnified Party or does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all Liability with respect tothereto, and (E) the Indemnified Party shall, at the Indemnifying Party's reasonable request and at the Indemnifying Party's expense, cooperate in the defense of the matter. In the event that the conditions in Section 9.04(d)(ii) are not or become unsatisfied in the case of any Third Party Claim in any manner it reasonably Claim, then the Indemnified Party may deem appropriate, subject to the prior written consent assume control of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs defense of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)such claim.

Appears in 1 contract

Samples: Asset Purchase Agreement (Lahaina Acquisitions Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, the indemnifying party it shall be authorized to consent to a settlement of, or bound by the entry of any judgment arising from, any such Third results obtained by the Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and (iii) the Indemnifying Party shall cause each not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties will Indemnifying Party shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party shall remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party Third Party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 79, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writingwriting and inquire as to whether the Indemnifying Party intends to defend the Indemnified Party against such Third Party Claim; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim at the cost and expense of the Indemnifying Party with counsel of its choice so long as: (i) as the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that (i) the indemnifying party Indemnifying Party will indemnify indemnify, to the indemnified party extent permitted by Law, the Indemnified Party from and against the entirety of any Damages Losses the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , and (ii) the Third Indemnifying Party Claim involves only money damages and does will not seek an injunction or other equitable relief that is likely to have a material adverse effect on assert against the indemnified party; and (iii) the indemnifying party conducts the Indemnified Party any legal defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents indemnification obligations hereunder with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) aboveClaim, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnifying Party (which consent shall not to unreasonably be unreasonably withheld or delayed. Each indemnified party shallwithheld), and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (iiii) the indemnified party Indemnifying Party will have the right to defend against, and not consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim unless written agreement is obtained releasing the Indemnified Party from all liability thereunder. (d) In the event that the Indemnifying Party does not send the notice provided for in any manner it reasonably may deem appropriate, subject Section 9.6(b) within fifteen (15) days after the Indemnified Party has given notice of the Third Party Claim to the prior written consent Indemnifying Party, then the Indemnified Party shall thereafter be entitled to defend against the Third Party Claim with counsel of its choice and the indemnifying party, which consent Indemnifying Party's right to defend against the Third Party Claim shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties terminate. The Indemnifying Party will reimburse the indemnified party Indemnified Party for the reasonable costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)) in addition to paying any amounts to which the Indemnified Party is otherwise entitled to from the Indemnifying Party hereunder.

Appears in 1 contract

Samples: Title Transfer Agreement (Northeast Utilities System)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party hereto with respect to any matter (a "Third Party Claim") which that may give rise to a claim for indemnification by the party so notified against any indemnifying other party under to this Section 7agreement hereto, then the indemnified party shall promptly notify each give notice of the matter to the indemnifying party thereof (in writingthe case of the Stockholders, notice to the Stockholders’ Representative being sufficient); provided, however, that no delay on the part of the indemnified party in notifying the indemnifying party shall relieve the indemnifying party from any obligation hereunder unless (and then solely to the extent) the indemnifying party is thereby prejudiced. (b) Any An indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: with counsel of its choice satisfactory to the indemnified party provided that (i) the indemnifying party notifies the indemnified party party, in writing writing, within 20 15 days after the indemnified party has given notice of the Third Party Claim Claim, that the indemnifying party will indemnify assume the defense of the Third Party Claim and pay all attorneys’ fees and other third party defense costs in connection therewith, (ii) the indemnifying party provides the indemnified party from and against the entirety of any Damages with evidence reasonably acceptable to the indemnified party may suffer resulting from or caused by that the indemnifying party (in the case of the Stockholders, that each of the Stockholders) will have the financial resources to defend against the Third Party Claim; Claim and fulfill its indemnification obligations hereunder, (iiiii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is likely to have a material adverse effect on not, in the good faith judgment of the indemnified party; , likely to establish a precedential custom or practice adverse to the continuing business interests of the indemnified party, and (iiiiv) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party (in the case of the Stockholders, the Stockholders’ Representative on behalf of the Stockholders) is conducting the defense of the Third Party Claim in accordance with Section 7.5(bsection 9.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall party (not to be unreasonably withheld or delayedwithheld). Each indemnified party shallIn addition, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in will not, at any time, consent to the defense entry of such any judgment or enter into any settlement with respect to the Third Party Claim being defended by without the indemnifying prior written consent of the indemnified party pursuant (not to Section 7.5(bbe unreasonably withheld), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event If any of the conditions in Section 7.5(b) and 7.5(csection 9.5(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, (i) the indemnified party will have the right to may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the indemnified party need not consult with, subject to the prior written or obtain any consent of from, any indemnifying party in connection therewith), provided, however, that the indemnifying partyparty shall be given the right to participate in such defense through counsel chosen by the indemnified party at its expense, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will party shall reimburse the indemnified party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses) to the extent that the Third Party Claim is subject to indemnity hereunder, and the indemnifying party shall remain responsible for any Losses the indemnified party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this section 9.5 (subject to the other limitations set forth in this section 9). (e) With respect to any action or proceeding subject to indemnification under this section 9.5, (i) both the indemnified party and the indemnifying party (in the case of the Stockholders, the Stockholders’ Representative), as the case may be, shall be kept fully informed of the action or proceeding at all stages thereof where such party is not represented by its own counsel, (ii) the parties shall render to each other such assistance as they may reasonably require of each other and shall cooperate in good faith with each other to try to ensure the proper and adequate defense of any such action or proceeding brought by any third party, and (iii) regardless of which party is controlling the settlement or defense of any action or proceeding, both the indemnified party and indemnifying party shall act in good faith. (f) With respect to any pending action or proceeding subject to indemnification under this section 9.5, the parties shall cooperate in such a manner as to preserve in full (to the extent possible) the confidentiality of all confidential business records and the attorney-client and work-product privileges. In connection therewith, (i) each party shall use its commercially reasonable efforts, in any action or proceeding in which he or it has assumed or participated in the defense, to avoid production of confidential business records (consistent with applicable law and rules of procedure), and (ii) all communications between any party hereto and counsel responsible for or participating in the defense of any action or proceeding shall, to the extent possible, be made so as to reserve any applicable attorney-client or work-product privilege. (g) In connection with all matters relating to Third Party Claims, the Stockholders’ Representative is authorized to act on behalf of the Stockholders in dealing with the Buyer Indemnified Parties and third parties, and any action taken by the Stockholders’ Representative shall be binding upon each of the Stockholders to the same extent as if the action had been taken personally by them, respectively.

Appears in 1 contract

Samples: Stock Purchase Agreement (Crystal International Travel Group, Inc.)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party entitled to indemnification hereunder (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7, 9 then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party is responsible for and will fully indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, (E) the named parties to the Third Party Claim do not include both the Indemnified Party and the Indemnifying Party, and (iiiF) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b9(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c9(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) each Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 9.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nstor Technologies Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder (subject to the limitations set forth in Section 7.1(c) and 7.2(b)), (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, it will be bound by the indemnifying party shall be authorized to consent to a settlement of, or results obtained by the entry of any judgment arising from, any such Third Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Purchase Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Buyer Indemnified Party or any Seller Indemnified Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party (the "Indemnifying Party") under this Section 713, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing. ; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b13.4(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld withheld, delayed or delayed. Each indemnified party shallconditioned unreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld, delayed or conditioned unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c13.4(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any A-32 39 settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)., and (iii) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 13. 13.5

Appears in 1 contract

Samples: Asset Purchase Agreement (Biosepra Inc)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party hereto (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the “Indemnifying Party”) under this Section 79, then the indemnified party shall Indemnified Party will notify the Indemnifying Party thereof promptly notify each indemnifying party thereof and in writing. any event within thirty (b30) Any indemnifying party will have the right to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after receiving any written notice from a third party; provided that no delay on the indemnified party part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that, the Indemnifying Party is prejudiced thereby. Once the Indemnified Party has given notice of the Third matter to the Indemnifying Party, the Indemnified Party Claim may defend against the matter in any manner it reasonably may deem appropriate. In the event the Indemnifying Party notifies the Indemnified Party after the date the Indemnified Party has given notice of the matter that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Indemnifying Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct assuming the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: matter (ia) the indemnifying party shall pay or cause to be paid all amounts arising out Indemnifying Party will defend the Indemnified Party against the matter with counsel of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply its choice reasonably satisfactory to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) aboveIndemnified Party, (ib) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate in (but not control) the defense expenses of the Third Indemnified Party’s separate co-counsel to the extent (i) counsel for the Indemnifying Party Claim and determines in good faith that such counsel has a conflict of interest that precludes joint representation, (ii) the indemnified party Indemnifying Party is not capable by reason of insufficient financial capital, bankruptcy, receivership, liquidation, managerial deadlock or similar events of maintaining a reasonable defense of such action or proceeding, or (iii) the action or proceeding seeks injunctive or other equitable relief against the Indemnified Party), (c) the Indemnified Party will not consent to the entry of any a judgment or enter into any settlement with respect to the Third Party Claim matter without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shall, delayed unreasonably) and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does Indemnifying Party will not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any a judgment with respect to the matter or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect tothereto, without the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably).

Appears in 1 contract

Samples: Asset Purchase Agreement (Alamo Group Inc)

Matters Involving Third Parties. (a) If In the event that an Indemnified Party desires to make a claim against an Indemnifying Party under Section 10.8 in connection with any Proceeding at any time instituted against or made upon an Indemnified Party by any third party shall notify any indemnified party with respect to any matter for which an Indemnified Party may seek indemnification hereunder (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7”), then the indemnified party such Indemnified Party shall promptly notify each indemnifying party thereof in writing. (b) Any indemnifying party will have the right to defend the indemnified party against the Indemnifying Party of such Third Party Claim and of the Indemnified Party’s claim of indemnification with respect thereto. The failure to so long as: notify the Indemnifying Party shall not relieve the Indemnifying Party of its obligations hereunder except to the extent such failure adversely prejudices the Indemnifying Party’s ability to defend such claim. The Indemnifying Party shall have thirty (i30) days after receipt of such notice to notify the indemnifying party notifies the indemnified party Indemnified Party in writing within 20 days after if it has elected to undertake, conduct and control, through counsel of their own choosing (subject to the indemnified party has given notice consent of the Third Party Claim that the indemnifying party will indemnify the indemnified party from Indemnified Party, such consent not to be unreasonably withheld, conditioned or delayed) and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages at its sole risk and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claimexpense, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the good faith settlement or defense of such Third Party Claim. If , and the indemnifying party Indemnified Party shall have assumed reasonably cooperate with the defense of any Third Indemnifying Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without connection therewith; provided: (a) all settlements require the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently reasonable consultation with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; Indemnified Party and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying partyIndemnified Party, which consent shall not to be unreasonably withheld withheld, conditioned or delayed. Each indemnified party shall, and (b) the Indemnified Party shall cause each of its affiliatesbe entitled to participate in such settlement or defense through counsel chosen by the Indemnified Party, directors, officers, employees provided that the fees and agents to, cooperate fully with the indemnifying party in the defense expenses of such Third Party Claim being defended counsel shall be borne by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by Indemnified Party. So long as the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event Indemnifying Party is contesting any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in good faith, the first instanceIndemnified Party shall not pay or settle any such Third Party Claim; provided, (i) however, that notwithstanding the indemnified party will foregoing, the Indemnified Party shall have the right to defend againstpay or settle any such Third Party Claim at any time, and consent provided that in such event they shall waive any right of indemnification therefor by the Indemnifying Party. If the Indemnifying Party does not make a timely election to undertake the entry good faith defense or settlement of any judgment or enter into any settlement with respect to, the Third Party Claim as aforesaid, or if the Indemnifying Party fails to proceed with the good faith defense or settlement of the matter after making such election, then, in any manner it reasonably may deem appropriateeither such event, subject the Indemnified Party shall have the right to contest, settle or compromise (provided that all settlements or compromises require the prior reasonable consultation with the Indemnifying Party and the prior written consent of the indemnifying partyIndemnifying Party, which consent shall not to be unreasonably withheld withheld, conditioned or delayed and (iidelayed) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees at their exclusive discretion, at the risk and expenses)expense of the Indemnifying Party.

Appears in 1 contract

Samples: Asset Purchase Agreement (American Greetings Corp)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party entitled to indemnification hereunder (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting pursuant to Section 11(f); provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 thirty (30) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against any Adverse Consequences the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; Claim (iiexcept to the extent the failure to so notify the Indemnified Party would not result in any Adverse Consequences to the Indemnified Party), (B) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (C) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have a material adverse effect Material Adverse Effect on the indemnified party; continuing business interests of the Indemnified Party, (D) the named parties to the Third Party Claim do not include both the Indemnified Party and the Indemnifying Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim promptly, actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c8(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense becomes unsatisfied, however, for such period of time as such Third Party Claim in the first instancecondition remains unsatisfied, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 8; provided, however, that in the event that the condition contained in Section 8(d)(ii)(C) above is or becomes unsatisfied, the Indemnifying Parties shall only be responsible for Adverse Consequences in an amount not to exceed 110% of the settlement or adverse judgment reached or received by the Indemnifying Parties.

Appears in 1 contract

Samples: Stock Purchase Agreement (Nstor Technologies Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the “Indemnifying Party”) under this Section 710.05, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages adverse consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i10.05(b)(A) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) 10.05(b), above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, then, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriatereasonably appropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any adverse consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 10.05.

Appears in 1 contract

Samples: Purchase Agreement (Nexsan Corp)

Matters Involving Third Parties. (ai) If any third party shall notify notifies any indemnified party Party (the “Indemnified Party”) with respect to any matter (a "Third “Third-Party Claim") which that may give rise to a claim for indemnification against any indemnifying party other Party (the “Indemnifying Party”) under this Section 7§8, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing, but in any event, at least ten (10) days prior to the last date to avoid a default or forfeiture of the right to dispute or contest the claim or for filing an answer or response to any suit, claim or action; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is thereby prejudiced as stated above. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Third-Party Claim with counsel of his, her, or its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 fifteen (15) days after the indemnified party Indemnified Party has given notice of the Third Third-Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Third-Party Claim; , (iiB) the Third Indemnifying Party provides the Indemnified Party with evidence acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third-Party Claim and fulfill its indemnification obligations hereunder, (C) the Third-Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests or the reputation of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Third-Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Third-Party Claim in accordance with Section 7.5(b§8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at his, her, or its sole cost and expense and participate in (but not control) the defense of the Third Third-Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment on or enter into any settlement with respect to the Third Third-Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shallIndemnifying Party, and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment on or enter into any settlement with respect to the indemnifying party in the defense of such Third Third-Party Claim being defended by without the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by prior written consent of the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnified Party. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c§8(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment on or enter into any settlement with respect to, the Third Third-Party Claim in any manner his, her, or it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Third-Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third-Party Claim to the fullest extent provided in this §8.

Appears in 1 contract

Samples: Stock Purchase Agreement (Investors Title Co)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") with respect to which may give rise the Indemnified Party proposes to make a claim for indemnification against any indemnifying other party under this Section 7(the "INDEMNIFYING PARTY"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within thirty (30) calendar days after receiving such notice. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) if Buyer is to be the indemnifying party Indemnified Party, the Damages to be incurred by the Indemnifying Party are reasonably expected to exceed the Basket Amount in the event the Person pursuing the Third Party Claim is successful on the merits of such claim; (ii) the Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 thirty (30) calendar days after the indemnified party Indemnified Party has given notice of the Third Party Claim that it intends to defend the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified partyclaim; and (iii) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligentlyin good faith. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, the indemnifying party Indemnified Party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimdo so. (c) So long as If the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) aboveSECTION 9.3(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim (although the Indemnifying Party and its counsel shall control such defense). If the Indemnified Party is conducting the defense of the Third Party Claim in accordance with SECTION 9.3(b) above the Indemnifying Party may retain separate co-counsel at its sole cost and expense and participate in the defense of the Third Party Claim (ii) although the indemnified party Indemnified Party and its counsel shall control such defense). The Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnifying Party (which consent shall will not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(bwithheld) and 7.5(c) above are or become unsatisfied or the indemnifying party does Indemnifying Party will not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying party, Indemnified Party (which consent shall will not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenseswithheld).

Appears in 1 contract

Samples: Stock Purchase Agreement (Dobson Communications Corp)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") ------------------ ----------------- which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 7(S)6, then the indemnified party Indemnified Party ------------------ shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, --------- however, that no delay on the part of the Indemnified Party in notifying ------- any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 30 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b(S)6 (d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c(S)6(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this (S)6.

Appears in 1 contract

Samples: Stock Purchase Agreement (Intellisys Group Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party (the “Indemnifying Party”) under this Section 7Article 12, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is materially prejudiced. (b) Any indemnifying party The Indemnifying Party will have the right to defend elect, by written notice within ten (10) business days of notification of such claim, to assume the indemnified party defense of the Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; (ii) as the Third Party Claim involves only money damages in an amount (together with the amount of all then pending Third Party Claims and all other pending claims for indemnification hereunder) less than the maximum amount that the Indemnifying Party is then obligated to indemnify the Indemnified Party and does not seek an injunction or other equitable relief that is likely to unless the equitable relief sought could not have a material adverse effect Material Adverse Effect on the indemnified partyIndemnified Party; and (iii) provided that the indemnifying party conducts the defense of the Third Indemnifying Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld withheld) unless the judgment or delayedproposed settlement involves only the payment of money damages that are paid in full by the Indemnifying Party and does not impose an injunction, other equitable relief or other liabilities or obligations upon the Indemnified Party. Each indemnified party shall, and shall cause each The Indemnified Party may participate in such defense through counsel of its affiliatesown choosing at its own expense, directorsnotwithstanding the foregoing, officersif the Indemnified Party has reasonably concluded (upon the advice of counsel to the Indemnified Party) that (i) there may reasonably be legal defenses available to them that are different from or in addition to or inconsistent with those available to the Indemnifying Party, employees or (ii) there is any conflict of interest between the Indemnifying Party and agents toany Indemnified Party, cooperate fully with the indemnifying party such Indemnified Party shall be permitted to participate in the defense of such action with counsel selected by such Indemnified Party, which counsel shall be reasonably acceptable to the Indemnifying Party, and the Indemnifying Party shall pay the reasonable fees and expenses of such counsel, subject to receiving reasonable documentation of such fees and expenses. (c) Unless and until the Indemnifying Party assumes the defense of the Third Party Claim being defended by the indemnifying party pursuant to as provided in Section 7.5(b12.4(b), including providing full access to documents, properties, books and records the Indemnified Party may defend against the Third Party Claim in any manner he or it may reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialdeem appropriate. (d) In no event will the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Indemnified Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, to the Third Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)Indemnifying Party.

Appears in 1 contract

Samples: Merger Agreement (Ign Entertainment Inc)

Matters Involving Third Parties. (aA) If any third party shall notify any indemnified party Indemnified Party with respect to any matter (a "Third “Third-Party Claim") which may give rise to a claim for indemnification against any indemnifying party an Indemnifying Party under this Section 7, then the indemnified party Indemnified Party shall promptly (and in any event within twenty (20) business days after receiving notice of the Third-Party Claim) notify each indemnifying party Indemnifying Party thereof in writing, describing in reasonable detail the nature of the Third-Party Claim and, if applicable, the amount of claimed Losses. Failure to so timely notify shall not relieve the Indemnifying Party from its obligations hereunder unless (and solely to the extent) the Indemnifying Party is actually materially prejudiced as a result thereof. (bB) Any indemnifying party The Indemnifying Party will have the right, at any time within twenty (20) business days of being notified by the Indemnified Party of such Third-Party Claim, to assume and thereafter conduct the defense of the Third-Party Claim with counsel of his or its choice reasonably satisfactory to the Indemnified Party; provided that (1) the Indemnifying Party has unconditionally acknowledged to the Indemnified Party in writing its obligation to indemnify the Indemnified Party to the full amount of any Losses in connection with such Third-Party Claim and to discharge any Losses incurred or to be incurred by the Indemnified Party with respect to such Third-Party Claim, and (2) the Indemnifying Party conducts such defense actively and diligently; and provided further, that the Indemnifying Party will not have the right to defend assume the indemnified party against the Third defense of a Third-Party Claim so long as: (ia) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice if such claim principally seeks injunctive relief against Target or any of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claimits Affiliates (including Buyer); (iib) the Third Party Claim involves only money damages and does not seek an injunction if such claim relates to matters involving criminal conduct or any claim by a Governmental Entity; or (c) if such claim would reasonably be expected to damage or impair any Indemnified Party’s or its Affiliate’s business relationships with any of such Person’s material customers, suppliers, vendors or other equitable relief that service providers. If the Indemnifying Party is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts conducting the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Third-Party Claim in accordance with this Section 7.5(b7(f)(ii)(B), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: then (iI) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Indemnified Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Third-Party Claim Claim, and (iiII) the indemnified party Indemnifying Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Third-Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnified Party (not to be unreasonably withheld withheld, delayed or delayed. Each indemnified party shallconditioned), unless the judgment or proposed settlement involves only the payment of money damages in an amount less than the limitations, if any, provided under Section 7(d) with respect to the Indemnifying Party’s indemnification obligations under this Section 7, and shall cause each does not involve any admission of its affiliatesfault or violation of Law by or on behalf of the Indemnified Party. (C) Unless and until an Indemnifying Party completely assumes the defense of the Third-Party Claim as provided in Section 7(f)(ii)(B), directors, officers, employees and agents to, cooperate fully with or if the indemnifying party in Indemnifying Party fails to diligently conduct the defense of such Third Third-Party Claim being defended by the indemnifying party pursuant or is not permitted to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Third-Party Claim, the Indemnified Party may defend against the Third-Party Claim in any manner it may reasonably deem appropriate, with the first instance, Indemnifying Party responsible for all reasonable costs incurred in connection therewith (iincluding reasonable fees and expenses of counsel). (D) In no event will the indemnified party will have the right to defend against, and Indemnified Party consent to the entry of any judgment on or enter into any settlement with respect to, to the Third Third-Party Claim in any manner it reasonably may deem appropriate, subject to without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld withheld, delayed or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesconditioned).

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (MSA Safety Inc)

Matters Involving Third Parties. (a) If any third party shall should notify any indemnified party with respect to any matter (a "Third Party Claim") which that may give rise to a claim for indemnification against any indemnifying party under this Section 78, then the indemnified party shall Indemnified Party will promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (ba) Any indemnifying party Indemnifying Party will have the right to defend select counsel of its choice reasonably satisfactory to the indemnified party against Indemnified Party to handle the Third Party Claim so long as: except when the relevant Third Party Claim (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from does not primarily involve money damages or caused by the Third Party Claim; (ii) is asserted directly by or on behalf of a Person who is a customer of, or supplier to, the Third Company. In circumstances when it has the right to select counsel, the Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts shall conduct the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party diligently and shall have assumed the defense of any Third duty to indemnify and defend the Indemnified Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party and shall pay or cause costs of defense, including reasonable attorney’s fees, to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to defend such Third Party Claim. (cb) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8.5(a) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense expenses and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnifying Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim, nor take any voluntary action prejudicial to the determination of the Third Party Claim, without the prior written consent of the Indemnifying Party and (iii) the Indemnifying Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without unless written agreement from the prior written consent of party bringing the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by is obtained releasing the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available Indemnified Party from all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialliability thereunder. (dc) In the event any of that the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party Indemnifying Party does not assume (or otherwise ceases to) conduct the defense of such the Third Party Claim in under Section 8.5(a) above, the first instance, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, against the Third Party Claim in any manner it may reasonably deem appropriate and may deem appropriate, subject consent to the entry of judgment or enter into a settlement of the Third Party Claim only with the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed Indemnifying Party provided that it is understood that (i) the Indemnified Party may retain separate co-counsel at its sole cost and expenses and participate in the defense of the Third Party Claim and (ii) the indemnifying parties will reimburse the indemnified party for the costs any such entry of defending against any judgment or entering into of any settlement with respect to the Third Party Claim shall also release the Indemnifying Party from all liability thereunder. (including reasonable attorneys' fees and expensesd) Notwithstanding this Section 8.5, the procedure with respect to Tax Contests shall be determined pursuant to Section 7.10(a)(4).

Appears in 1 contract

Samples: Membership Interest Purchase and Sale Agreement (Global Power Equipment Group Inc.)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which that may give rise to a right to claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78.2 or Section 8.3, then the indemnified party Indemnified Party shall promptly (and in any event within five business days after receiving notice of the Third Party Claim) notify each indemnifying party the Indemnifying Party thereof in writingwriting (the "Claim Notice"); provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is adversely affected in its ability to defend against such Claim or is otherwise prejudiced thereby. (b) Any indemnifying party The Indemnifying Party will have the right to assume and thereafter conduct the defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as (i) the Indemnifying Party notifies the Indemnified Party in writing (within twenty (20) days after the Indemnified Party has given the Claim Notice) that the Indemnifying Party will fulfill its indemnification obligations hereunder and provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; fulfill its indemnification obligations hereunder, (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; relief, and (iii) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above8.4(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party, except in the cases involving only money damages which are not likely to Section 7.5(b), including providing full access establish a precedential custom or practice adverse to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by continuing business interests of the indemnifying party for investigations, depositions and trialIndemnified Party. (d) In the event any of the conditions in Section 7.5(b8.4(b) and 7.5(c) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to only with consent from the prior written consent of the indemnifying party, which consent shall Indemnifying Party not to be unreasonably withheld or delayed and withheld), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesexpenses if the Indemnified Party delivers an undertaking to repay if not ultimately entitled to indemnification), and (iii) the Indemnifying Parties will remain responsible, subject to the terms and limitations set forth in this Article VIII, for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Agreement.

Appears in 1 contract

Samples: Contribution Agreement (Alpha Natural Resources, Inc.)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified party Governmental Authority) notifies Seller, on the one hand, or Buyer, on the other hand, (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7the Party (or in the case of Seller, Seller and ICG) (the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party the Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced by such delay. (b) Any indemnifying party The Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 ten days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences for which the indemnified party may suffer resulting from or caused by Indemnified Party is entitled to indemnification, (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim; Claim and fulfill its indemnification obligations hereunder, (iiiii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If At any time that the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party Indemnifying Party is entitled to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with this Section 7.5(b) above8.3(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not controlthe defense of the Third Party Claim. In the event any of the conditions in this Section 8.3(b) is or becomes unsatisfied, the Indemnified Party may defend against the Third Party Claim so long as the Indemnified Party conducts the defense of the Third Party Claim actively and diligently. (iic) the indemnified At any time that a party is defending a Third Party Claim, neither party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without obtaining (A) an entry of dismissal, with prejudice, or an entry of dismissal, without prejudice, and a covenant not to sue (xx legal action is instituted), (B) the full and unconditional release of the other party from all liability in respect of such Third Party Claim and (C) the prior written consent of the indemnifying party, which consent shall other party (not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(bunreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In If the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Indemnified Party Claim in the first instance, (i) the indemnified party will have has the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, is in fact defending the Third Party Claim in any manner it reasonably may deem appropriateClaim, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and the Indemnifying Party will remain responsible for any Adverse Consequences for which the Indemnified Party is entitled to indemnification.

Appears in 1 contract

Samples: Asset Purchase Agreement (Mindspring Enterprises Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writing.writing within 15 days after receiving such notice. No delay on the part of the Indemnified Party in (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, it will be bound by the indemnifying party shall be authorized to consent to a settlement of, or results obtained by the entry of any judgment arising from, any such Third Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rentx Industries Inc)

Matters Involving Third Parties. (a) a If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) b Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, xxxii 37 in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, the indemnifying party it shall be authorized to consent to a settlement of, or bound by the entry of any judgment arising from, any such Third results obtained by the Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) c So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and (iii) the Indemnifying Party shall cause each not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) d In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties will Indemnifying Party shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party shall remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Purchase Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party an Indemnified Party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party the Indemnifying Party under this Section 7Article 11, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced thereby. (b) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of the Indemnifying Party’s choice, reasonably satisfactory to the Indemnified Party, so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party in writing Indemnified Party, within 20 ten (10) days after the indemnified party Indemnified Party has given notice of the Third Party Claim to the Indemnifying Party that the indemnifying party Indemnifying Party is assuming the defense of such Third Party Claim and will indemnify the indemnified party from and Indemnified Party against the entirety of any Damages the indemnified party may suffer resulting from or caused by the such Third Party Claim; Claim in accordance with the terms and limitations of this Article 11 and (ii) the Third Indemnifying Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively in an active and diligentlydiligent manner. If In the indemnifying party assumes event that the Indemnifying Party fails to assume the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)within ten (10) days after notice thereof is given by the Indemnified Party, the indemnifying party Indemnified Party shall be authorized have the right to consent to a undertake the defense, appeal or settlement of, or the entry of any judgment arising from, any such Third Party Claim, without Claim at the prior consent expense and for the account of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party ClaimIndemnifying Party. (c) So long as the indemnifying party is conducting conditions set forth in Section 11.5(b) are and remain satisfied, then (i) the Indemnifying Party may conduct the defense of the Third Third-Party Claim in accordance with Section 7.5(b) above11.5(b), (iii) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not controliii) the defense of the Third Indemnifying Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim not, without the prior written consent of the indemnifying party, Indemnified Party (which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall), and shall cause each consent to any admission or the entry of its affiliatesany judgment with respect to the matter, directorsor enter into any settlement which (A) imposes an injunction or other equitable relief upon the Indemnified Party, officers, employees and agents to, cooperate fully with (B) does not include an unconditional provision whereby the indemnifying party plaintiff or claimant in the defense matter releases the Indemnified Party from all liability with respect thereto or (C) in the reasonable opinion of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b)Indemnified Party, including providing full access to documentscould have a material adverse effect on its business, propertiesoperations, books and records reasonably requested by the indemnifying party and make available all officersassets, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialor financial condition. (d) In Notwithstanding the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instanceforegoing, if (i) the indemnified party will have the right to defend againstan Indemnified Party determines in good faith that there is a reasonable probability that an action may materially and adversely affect it or its Affiliates other than as a result of monetary damages, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse Indemnifying Party shall not have employed counsel reasonably satisfactory to the indemnified Indemnified Party to have charge of such third-party for action, (iii) the costs Indemnified Party shall have reasonably concluded that there may be defenses available to such Indemnified Party that are different from or additional to those available to the Indemnifying Party, or (iv) the Indemnified Party’s counsel shall have advised the Indemnified Party in writing, with a copy delivered to the Indemnifying Party, that there is a material conflict of defending against interest that could violate applicable standards of professional conduct to have common counsel, then, in each case, such Indemnified Party may, by notice to the Third Indemnifying Party, assume the exclusive right to defend, compromise or settle such action, but the Indemnifying Party Claim shall have no liability with respect to a judgment entered in any action so defended, or a compromise or settlement thereof entered into, without its consent (including reasonable attorneys' fees and expenseswhich shall not be unreasonably withheld).

Appears in 1 contract

Samples: Stock Purchase Agreement (Jl Halsey Corp)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim.Party (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rentx Industries Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified ----------- Party") with respect to any matter (a "Third Party Claim") which may give ----- ----------------- rise to a claim for indemnification against any indemnifying party the other Party (the "Indemnifying Party") under this Section 7(S)11, then the indemnified party Indemnified Party shall ------------------ promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party The Indemnifying Party will have the right to defend assume the indemnified party against defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 30 days after the indemnified party Indemnified Party has given notice of the applicable Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against any Losses the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from or caused by the such Third Party Claim; Claim to the extent required by this (iiS)11 and (B) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claimrelief, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Indemnifying Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnified Party (which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall) unless the judgment or proposed settlement involves only the payment of money damages by the Indemnifying Party and does not impose an injunction or other equitable relief upon the Indemnified Party. (iii) So long as the Indemnifying Party is conducting the defense of the Third Party Claim in accordance with (S)11(d)(ii) above, (A) the Indemnified Party may retain separate counsel at its sole cost and shall cause each of its affiliates, directors, officers, employees expense and agents to, cooperate fully with the indemnifying party participate in the defense of such the Third Party Claim being defended provided that the Indemnified Party and, to the extent consistent with its professional responsibilities, such separate counsel shall cooperate with the Indemnifying Party and any counsel retained by the indemnifying party pursuant Indemnifying Party and (B) the Indemnified Party will not consent to Section 7.5(b), including providing full access the entry of any judgment or enter into any settlement with respect to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by Third Party Claim without the indemnifying party for investigations, depositions and trial. (d) prior consent of the Indemnifying Party. In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party Indemnifying Party does not assume and conduct the defense of such the Third Party Claim in accordance with (S)11(d)(ii) above, however, the first instance, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate and the Indemnifying Party will pay the reasonable fees and expenses of any legal counsel retained by the Indemnified Party in connection with such Third Party Claim. The Indemnifying Party will also pay the reasonable fees and expenses of any legal counsel retained by the Indemnified Party in the event the Indemnified Party reasonably determines that having separate counsel would be appropriate under the circumstances because of the existence of separate defenses or because of conflicts of interest that could arise that, subject in either case, would materially prejudice the Indemnified Party if it did not have separate counsel; provided, however, that the Indemnifying Party shall not be required to pay the expense of more than one legal counsel of the Indemnified Parties in any single action and that such counsel shall, to the prior written consent of extent consistent with its professional responsibilities, cooperate with the indemnifying party, which consent shall not to be unreasonably withheld or delayed Indemnifying Party and (ii) any counsel designated by the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)Indemnifying Party.

Appears in 1 contract

Samples: Stock Purchase Agreement (Pacer International Inc)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying party other Party (the "INDEMNIFYING PARTY") under this Section 74, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b4(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel reasonably acceptable to the Indemnifying Party at its the sole cost and expense of the Indemnified Party and participate in (but not control) the defense of the Third Party Claim Claim; provided, however, the Indemnifying Party's counsel shall control the defense of the Third Party Claim; and (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c4(d)(ii) above are or become unsatisfied or not satisfied in the indemnifying party does not assume reasonable judgement of the defense Indemnified Party and after delivering written notice to the Indemnifying Party of such Third dissatisfaction giving the Indemnifying Party Claim in the first instancea reasonable period to cure, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 4.

Appears in 1 contract

Samples: Transition and Indemnity Agreement (FBL Financial Group Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which that may give rise to a right to claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78.2 or Section 8.3, then the indemnified party Indemnified Party shall promptly (and in any event within five business days after receiving notice of the Third Party Claim) notify each indemnifying party the Indemnifying Party thereof in writingwriting (the "Claim Notice"); provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. The Indemnified Party shall not be required to commence litigation or take any action against any third party prior to delivery of the Claim Notice. (b) Any indemnifying party The Indemnifying Party will have the right to assume and thereafter conduct the defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as (i) the Indemnifying Party notifies the Indemnified Party in writing (within twenty (20) days after the Indemnified Party has given the Claim Notice) that the Indemnifying Party will fulfill its indemnification obligations hereunder and provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend the indemnified party against the Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice of the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; fulfill its indemnification obligations hereunder, (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; relief, and (iii) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above8.4(b), (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party, except in the cases involving only money damages which are not likely to Section 7.5(b), including providing full access establish a precedential custom or practice adverse to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by continuing business interests of the indemnifying party for investigations, depositions and trialIndemnified Party. (d) In the event any of the conditions in Section 7.5(b8.4(b) and 7.5(c) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in only with consent from, any manner it reasonably may deem appropriateIndemnifying Party, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and withheld), (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesexpenses if the Indemnified Party delivers an undertaking to repay if not ultimately entitled to indemnification), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Alpha Natural Resources, Inc.)

Matters Involving Third Parties. (a) a If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) b Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, the indemnifying party it shall be authorized to consent to a settlement of, or bound by the entry of any judgment arising from, any such Third results obtained by the Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) c So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and (iii) the Indemnifying Party shall cause each not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) d In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties will Indemnifying Party shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses)., and (iii) the Indemnifying Party shall remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7. -39- 40

Appears in 1 contract

Samples: Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party hereto (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the "Indemnifying Party") under this Section 79, then the indemnified party shall promptly Indemnified Party will notify each indemnifying party the Indemnifying Party thereof in writing. (b) Any indemnifying writing promptly and in any event within 10 days after receiving any written notice from a third party stating the nature and basis of any claim made by the third party; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that, the Indemnifying Party is prejudiced thereby. The Indemnified Party shall provide to the Indemnifying Party on request all information and documentation reasonably necessary to support and verify any Losses which the Indemnified Party believes give rise to a claim for indemnification hereunder and shall give the Indemnifying Party reasonable access to all books, records and personnel in the possession or under the control of the Indemnified Party which would have bearing on such claim. In the right to defend event the indemnified party against the Third Indemnifying Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing Indemnified Party within 20 30 days after the indemnified party date the Indemnified Party has given notice of the Third Party Claim matter that the indemnifying party Indemnifying Party is assuming the defense of such matter (i) the Indemnifying Party will indemnify defend the indemnified party from and Indemnified Party against the entirety matter with counsel of any Damages its choice reasonably satisfactory to the indemnified party may suffer resulting from or caused by the Third Party Claim; Indemnified Party, (ii) the Third Indemnified Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate expenses of such separate co-counsel to the extent the Indemnified Party reasonably concludes in good faith that the Indemnified Party has defenses available to it that may conflict with those of the Indemnifying Party), (but not controliii) the defense of the Third Indemnified Party Claim and (ii) the indemnified party will not consent to the entry of any judgment a judgement or enter into any settlement with respect to the Third Party Claim matter without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shalldelayed unreasonably), and shall cause each (iv) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully a judgement with respect to the indemnifying party matter or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the defense of such Third matter releases the Indemnified Party Claim being defended by from all liability with respect thereto, without the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any written consent of the conditions in Section 7.5(b) and 7.5(c) above are Indemnified Party (not to be withheld or become unsatisfied or delayed unreasonably). If the indemnifying party Indemnifying Party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect tomatter, the Third Indemnified Party Claim may defend against the matter in any manner it reasonably may deem appropriate, subject and (i) the Indemnified Party will defend the matter with counsel of its choice reasonably satisfactory to the prior Indemnifying Party, (ii) the Indemnifying Party may retain separate counsel at its sole cost and expense, and (iii) the Indemnified Party will not consent to the entry of a judgement or enter into any settlement with respect to the matter without the written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably). (b) The provisions of paragraph (a) of this Section 9.4 shall apply to all claims for indemnification hereunder except indemnification claims which involve Tax matters pertaining to Xxxxxxx, which claims shall be governed by Article 10.

Appears in 1 contract

Samples: Share Purchase and Sale Agreement (Terex Corp)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party hereto (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the "Indemnifying Party") under this Section 711, then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing. ; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (band then solely to the extent) Any indemnifying party will have the Indemnifying Party thereby is prejudiced. The Indemnifying Party and its legal representative(s) shall have, at the Indemnifying Party's election, the right to compromise, defend the indemnified party against the or cure any such Third Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing within 20 days after the indemnified party has given notice through counsel of the Third Indemnifying Party's own choosing at the Indemnifying Party's own expense. In the event the Indemnifying Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from intends to compromise, defend or caused by the Third Party Claim; (ii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, cure any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (ia) the indemnifying party Indemnifying Party shall pay or cause to be paid all amounts arising out notify the Indemnified Party of such settlement or judgment concurrently intention within fourteen (14) days after the Indemnifying Party's receipt of a notice from the Indemnified Party of a Third Party Claim and (b) the Indemnified Party shall cooperate in all respects with the effectiveness thereof; (ii) Indemnifying Party in the compromise, defense or cure of any such settlement or judgment Third Party Claim. In the event that the Indemnifying Party does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply give notice to the indemnified party; and (iii) that a condition Indemnified Party hereunder of its intention to any compromise, defend or cure within such settlement 14-day time period or does not in good faith compromise, defend or cure after such notice is given, thus causing the Indemnified Party to take action on its behalf to defend, compromise, cure or otherwise resolve such Third Party Claim, then, in such event, the action taken by the Indemnified Party shall be a complete release conclusively deemed to have, in all respects, been necessary and reasonable and the Indemnifying Party shall be estopped from alleging to the contrary. In the event the Indemnified Party shall have to take such action on its behalf, the Indemnified Party may seek and demand from the Indemnifying Party payment of such indemnified party and its affiliates, directors, officers, employees and agents all costs expended by the Indemnified Party with respect to such Third Party Claim. Claim (c) So long including, without limitation, reasonable attorneys' fees and other costs incurred by the Indemnified Party in defending, settling, compromising or inquiring as the indemnifying party is conducting the defense of the to any such Third Party Claim in accordance or course of action). In any event, all reasonable attorneys' fees and costs incurred by the Indemnified Party with Section 7.5(b) above, (i) regard to notifying the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense Indemnifying Part of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialshall also be included in this indemnity. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Vaughn Communications Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and relief, (iiiiv) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any an adverse judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).the

Appears in 1 contract

Samples: Purchase Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party shall promptly Indemnified Party will notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material relief, (iv) settlement of, or an adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of judgment with respect to, the Third Party Claim actively and diligently. If is not, in the indemnifying party assumes good faith judgment of the defense of any such claimIndemnified Party, the indemnifying party shall select counsel reasonably acceptable likely to establish a precedential custom or practice materially adverse to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent continuing business interests of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim.Indemnified (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Purchase Agreement (Rentx Industries Inc)

Matters Involving Third Parties. (a) If any third party shall notify notifies any indemnified party hereto (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying the other party hereto (the "Indemnifying Party") under this Section 79, then the indemnified party shall promptly Indemnified Party will notify each indemnifying party the Indemnifying Party thereof in writing. (b) Any indemnifying writing promptly and in any event within 10 days after receiving any written notice from a third party stating the nature and basis of any claim made by the third party; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party will relieve the Indemnifying Party from any obligation hereunder unless, and then solely to the extent that, the Indemnifying Party is prejudiced thereby. The Indemnified Party shall provide to the Indemnifying Party on request all information and documentation reasonably necessary to support and verify any Losses which the Indemnified Party believes give rise to a claim for indemnification hereunder and shall give the Indemnifying Party reasonable access to all books, records and personnel in the possession or under the control of the Indemnified Party which would have bearing on such claim. In the right to defend event the indemnified party against the Third Indemnifying Party Claim so long as: (i) the indemnifying party notifies the indemnified party in writing Indemnified Party within 20 30 days after the indemnified party date the Indemnified Party has given notice of the Third Party Claim matter that the indemnifying party Indemnifying Party is assuming the defense of such matter (i) the Indemnifying Party will indemnify defend the indemnified party from and Indemnified Party against the entirety matter with counsel of any Damages its choice reasonably satisfactory to the indemnified party may suffer resulting from or caused by the Third Party Claim; Indemnified Party, (ii) the Third Indemnified Party Claim involves only money damages and does not seek an injunction or other equitable relief that is likely to have a material adverse effect on the indemnified party; and (iii) the indemnifying party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b) above, (i) the indemnified party may retain separate co-counsel at its sole cost and expense (except that the Indemnifying Party will be responsible for the fees and participate expenses of such separate co-counsel to the extent the Indemnified Party reasonably concludes in good faith that the Indemnified Party has defenses available to it that may conflict with those of the Indemnifying Party), (but not controliii) the defense of the Third Indemnified Party Claim and (ii) the indemnified party will not consent to the entry of any judgment a judgement or enter into any settlement with respect to the Third Party Claim matter without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shall, delayed unreasonably) and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event Indemnifying Party will not consent to the entry of a judgement with respect to the matter or enter into any settlement which does not include a provision whereby the plaintiff or claimant in the matter releases the Indemnified Party from all liability with respect thereto, without the written consent of the conditions in Section 7.5(b) and 7.5(c) above are Indemnified Party (not to be withheld or become unsatisfied or delayed unreasonably). If the indemnifying party Indemnifying Party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect tomatter, the Third Indemnified Party Claim may defend against the matter in any manner it reasonably may deem appropriate, subject and (a) the Indemnified Party will defend the matter with counsel of its choice reasonably satisfactory to the prior Indemnifying Party, (b) the Indemnifying Party may retain separate counsel at its sole cost and expense and (c) the Indemnified Party will not consent to the entry of a judgement or enter into any settlement with respect to the matter without the written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expensesunreasonably).

Appears in 1 contract

Samples: Asset Purchase Agreement (Terex Corp)

Matters Involving Third Parties. (a) If any third Person not a party shall notify to this Agreement (including, without limitation, any indemnified Governmental Authority) notifies any party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party under this Section 7(the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writingwriting within 15 days after receiving such notice. No delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party will Indemnifying Party shall have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 10 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party will Indemnifying Party shall indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party shall have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes Indemnifying 33 38 Party does not assume control of the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense or settlement of any Third Party Claim in accordance with this Section 7.5(b)the manner described above, the indemnifying party it shall be authorized to consent to a settlement of, or bound by the entry of any judgment arising from, any such Third results obtained by the Indemnified Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such the Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.3(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party will Indemnified Party shall not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and (iii) the Indemnifying Party shall cause each not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c7.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties will Indemnifying Party shall reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Party shall remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to or caused by the Third Party Claim to the fullest extent provided in this Section 7.

Appears in 1 contract

Samples: Merger Agreement (Pentastar Communications Inc)

Matters Involving Third Parties. (a) If any third party shall notify any a party entitled to be indemnified party pursuant to Section 9.1 or 9.2 (the "Indemnified Party") with respect to any matter (a "Third which the Indemnified Party Claim") which has determined may give rise to a claim for indemnification against any indemnifying party under this Section 7the PACE Group or the Blockbuster Group, as the case may be (a "Third Party Claim") (the "Indemnifying Party"), then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. Subject to the Indemnifying Party's right to defend in good faith Third Party Claims as hereinafter provided, the Indemnifying Party shall satisfy its obligations under this Section 9 within 30 days after the receipt of written notice thereof from the Indemnified Party unless the Indemnifying Party notifies the Indemnified Party that it disputes any such obligations. (b) Any indemnifying party If the Indemnified Party shall notify the Indemnifying Party of any claim or demand pursuant to Section 9.3(a), and if such claim or demand relates to a Third Party Claim or demand against the Indemnified Party which the Indemnifying Party acknowledges is a claim or demand for which it must indemnify or hold harmless the Indemnified Party under Section 9.1 or 9.2, the Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages damage and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnifying Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts in good faith the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party The Indemnified Party shall select counsel reasonably acceptable make available to the indemnified party to conduct Indemnifying Party or its agents all records and other material in the defense of such Indemnified Party's possession reasonably required by it for use in contesting the Third Party Claim. If Whether or not the indemnifying party shall have assumed Indemnifying Party elects to defend the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party Indemnified Party shall pay or cause have no obligation to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claimdo so. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b9.3(b) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c9.3(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed any Indemnifying Party in connection therewith), and (iiB) the indemnifying parties Indemnifying Party will reimburse remain responsible for any damages the indemnified party for Indemnified Party may suffer resulting from, arising out of, relating to, in the costs of defending against nature of, or caused by the Third Party Claim (including reasonable attorneys' fees and expenses)to the fullest extent provided in this Section 9.

Appears in 1 contract

Samples: Purchase Agreement (SFX Entertainment Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party (the “Indemnified Party”) with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying other party (the “Indemnifying Party”) under this Section 7Article XI, then the indemnified party Indemnified Party shall promptly (and in any event within ten (10) business days after receiving notice of the Third Party Claim) notify each indemnifying party Indemnifying Party and the Escrow Agent thereof in writingwriting (an “Indemnification Notice”); provided, however, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right right, at its sole cost and expense, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 thirty (30) business days (or earlier in the event the underlying Third Party claim requires action) after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences (subject to the indemnified party limitations contained herein) the Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (iii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedent or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b11.4(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld unreasonably) and (iii) the Indemnifying Party will not consent to the entry of any judgment or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event that any of the conditions in Section 7.5(b) and 7.5(c11.4(b) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancefail to be complied with, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (ii) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (iii) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Article XI. (e) Notwithstanding anything to the contrary contained in this Article XI, the Party conducting the defense of any Third Party Claim shall not settle and pay any Third Party Claim unless and until the other Party shall have consented thereto, which consent shall not be unreasonably withheld or delayed.

Appears in 1 contract

Samples: Merger Agreement (Selway Capital Acquisition Corp.)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified ----------- Party") with respect to any matter (a "Third Party Claim") which may give ----- ----------------- rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78, then the indemnified party Indemnified Party ------------------ shall promptly notify each indemnifying party Indemnifying Party thereof in writing; provided, -------- however, that no delay on the part of the Indemnified Party in notifying -------- any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , (iiB) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill its indemnification obligations hereunder, (C) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (iiB) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shallIndemnifying Party, and shall cause each (C) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by prior written consent of the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trialIndemnified Party. (div) In the event any of the conditions in Section 7.5(b) and 7.5(c8(d)(ii) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to the prior written or obtain any consent of the indemnifying partyfrom, which consent shall not to be unreasonably withheld or delayed and any Indemnifying Party in connection therewith), (iiB) the indemnifying parties Indemnifying Parties will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 8.

Appears in 1 contract

Samples: Stock Purchase Agreement (Whittaker Corp)

Matters Involving Third Parties. (ai) If any third party shall notify any indemnified party Party (the "Indemnified Party") with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party other Party (the "Indemnifying Party") under this Section 78, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (bii) Any indemnifying party Indemnifying Party will have the right to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (iA) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify defend the indemnified party Indemnified Party from and against the entirety of any Damages Third Party Claim, (B) the indemnified party may suffer resulting from or caused by Indemnifying Party provides the Indemnified Party with reasonably acceptable evidence that the Indemnifying Party will have the financial resources to defend against the Third Party Claim; Claim and fulfill any related indemnification obligations hereunder, (iiC) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (D) settlement of, or an adverse judgment with respect to, the Third Party Claim is not reasonably likely to have establish a material precedential custom or practice materially adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiE) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (ciii) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b8(d)(ii) above, (iA) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and (ii) the indemnified party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully with the indemnifying party in the defense of such Third Party Claim being defended by the indemnifying party pursuant to Section 7.5(b), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c) above are or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instance, (i) the indemnified party will have the right to defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties will reimburse the indemnified party for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses).defense

Appears in 1 contract

Samples: Stock Purchase Agreement (Kendle International Inc)

Matters Involving Third Parties. (a) If any third party shall notify any indemnified party entitled to indemnification under this Agreement ("INDEMNIFIED PARTY") with respect to any matter (a "Third Party ClaimTHIRD PARTY CLAIM") which may give rise to a claim for indemnification against any indemnifying other party hereto ("INDEMNIFYING PARTY") under this Section 7, then the indemnified party Indemnified Party shall promptly notify each indemnifying party Indemnifying Party thereof in writing; PROVIDED, HOWEVER, that no delay on the part of the Indemnified Party in notifying any Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party thereby is prejudiced. (b) Any indemnifying party Indemnifying Party will have the right to defend control the indemnified party against defense of the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing within 20 15 days after the indemnified party Indemnified Party has given notice of the Third Party Claim that the indemnifying party Indemnifying Party will indemnify the indemnified party Indemnified Party from and against the entirety of any Damages Adverse Consequences the indemnified party Indemnified Party may suffer resulting from from, arising out of, relating to, in the nature of, or caused by the Third Party Claim; , or if the Indemnifying Party notifies the Indemnified Party that the Indemnifying Party will assume the defense of the Third Party Claim while reserving its rights to contest its obligations under this Section 7 (provided that the Indemnifying Party shall in such case provide the Indemnified Party with a reasonable basis for so reserving its rights to contest, and the Indemnifying Party shall promptly notify the Indemnified Party if, upon its further review of the Third Party Claim, that it is not obligated under this Section 7 to indemnify the Indemnified Party with respect to such Third Party Claim), (ii) the Indemnifying Party has the financial resources to defend the Third Party Claim, (iii) the Third Party Claim involves only money damages and does is not seek of such a nature that an injunction or other equitable relief that is likely to adverse determination of which would have a material adverse effect on the indemnified party; Indemnified Party's ability to conduct it Business in the future, and (iiiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b7.4(b) above, (iA) at the indemnified party expense of the Indemnified Party, the Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party B)the Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, Indemnifying Party (which consent shall not be withheld unreasonably) and (C) the Indemnifying Party will not consent to be unreasonably withheld the entry or delayed. Each indemnified party shall, and shall cause each of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant to Section 7.5(bprior written consent of the Indemnified Party (which consent shall not be withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b7.4(b)(ii), 7.4(b)(iii) and 7.5(c7.4(b)(iv) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (iA) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriate, subject to the prior written consent of the indemnifying party, which consent shall not to be unreasonably withheld or delayed and (iiB) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically for the costs of defending against the Third Party Claim (including reasonable attorneys' fees and expenses), and (C) the Indemnifying Parties will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 7. The provisions of Section 7(c)(B) and (C) shall be applicable under this Section 7(d).

Appears in 1 contract

Samples: Asset Sale and Purchase Agreement (Petersen Companies Inc)

Matters Involving Third Parties. (a) The party or parties seeking indemnification hereunder (each, an “Indemnified Party”) shall give the party or parties from whom indemnification is sought or to be sought (each, an “Indemnifying Party”) prompt written notice of any Adverse Consequences suffered by, affecting or otherwise directed at it. If any an indemnification claim involves a claim by a third party shall notify any indemnified party with respect to any matter (a "Third Party Claim") which may give rise to a claim for indemnification against any indemnifying party under this Section 7”), then the indemnified party Indemnified Party shall promptly notify each indemnifying party the Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is actually and materially prejudiced thereby. (b) Any indemnifying party The Indemnifying Party will have the right right, but not the obligation, to defend the indemnified party Indemnified Party against the Third Party Claim with counsel of its choice reasonably satisfactory to the Indemnified Party so long as: as (i) the indemnifying party Indemnifying Party notifies the indemnified party Indemnified Party in writing of its election to assume the defense of the Third-Party Claim within 20 fifteen (15) days after the indemnified party has given Indemnified Party gives notice of the assertion of the Third-Party Claim under Section 13.2(a), (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim that the indemnifying party will indemnify the indemnified party from and against the entirety of any Damages the indemnified party may suffer resulting from or caused by the Third Party Claim; fulfill its indemnification obligations hereunder, (iiiii) the Third Party Claim involves only money damages and does not seek an injunction or other equitable relief that relief, (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not, in the good faith judgment of the Indemnified Party, likely to have establish a material precedential custom or practice adverse effect on to the indemnified party; continuing business interests of the Indemnified Party, and (iiiv) the indemnifying party Indemnifying Party conducts the defense of the Third Party Claim actively and diligently. If the indemnifying party assumes the defense of any such claim, the indemnifying party shall select counsel reasonably acceptable to the indemnified party to conduct the defense of such Third Party Claim. If the indemnifying party shall have assumed the defense of any Third Party Claim in accordance with this Section 7.5(b), the indemnifying party shall be authorized to consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim, without the prior consent of the indemnified party; provided, however, that: (i) the indemnifying party shall pay or cause to be paid all amounts arising out of such settlement or judgment concurrently with the effectiveness thereof; (ii) such settlement or judgment does not involve the encumbrance of any assets of the indemnified party or include any restriction that would apply to the indemnified party; and (iii) that a condition to any such settlement shall be a complete release of such indemnified party and its affiliates, directors, officers, employees and agents with respect to such Third Party Claim. (c) So long as the indemnifying party Indemnifying Party is conducting the defense of the Third Party Claim in accordance with Section 7.5(b13.2(b) above, (i) the indemnified party Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in (but not control) the defense of the Third Party Claim and Claim, (ii) the indemnified party Indemnified Party will not consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the indemnifying party, which consent shall Indemnifying Party (not to be unreasonably withheld or delayed. Each indemnified party shallunreasonably), and shall cause each (iii) the Indemnifying Party will not consent to the entry of its affiliates, directors, officers, employees and agents to, cooperate fully any judgment or enter into any settlement with respect to the indemnifying party in the defense of such Third Party Claim being defended by without the indemnifying party pursuant prior written consent of the Indemnified Party (not to Section 7.5(bbe withheld unreasonably), including providing full access to documents, properties, books and records reasonably requested by the indemnifying party and make available all officers, directors, employees and indemnified parties reasonably requested by the indemnifying party for investigations, depositions and trial. (d) In the event any of the conditions in Section 7.5(b) and 7.5(c13.2(b) above are is or become unsatisfied or the indemnifying party does not assume the defense of such Third Party Claim in the first instancebecomes unsatisfied, however, (i) the indemnified party will have the right to Indemnified Party may defend against, and consent to the entry of any judgment or enter into any settlement with respect to, the Third Party Claim in any manner it reasonably may deem appropriateappropriate (and the Indemnified Party need not consult with, subject to or obtain any consent from, the prior written consent of the indemnifying partyIndemnifying Party in connection therewith), which consent shall not to be unreasonably withheld or delayed and (ii) the indemnifying parties Indemnifying Party will reimburse the indemnified party Indemnified Party promptly and periodically (at least monthly) for the costs of defending against the Third Party Claim (including reasonable attorneys' attorney’s fees and expenses), and (iii) the Indemnifying Party will remain responsible for any Adverse Consequences the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third Party Claim to the fullest extent provided in this Section 13. (e) Claims with respect to Taxes shall be governed by Section 12.4 and this Section 13.2 shall only apply to the extent a procedure regarding Taxes is not otherwise provided for in Section 12.4.

Appears in 1 contract

Samples: Stock Purchase Agreement (Bryn Mawr Bank Corp)

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