Common use of Notice; Defense of Claims Clause in Contracts

Notice; Defense of Claims. Any Person entitled to indemnification hereunder will give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification, and such indemnifying party will, upon request of the indemnified party, assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld). An indemnifying party who assumes the defense of a claim will not be obligated to pay the fees and expenses of separate counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the written opinion of counsel to the indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which case the indemnified party may retain its own counsel (which counsel will be reasonably satisfactory to the indemnifying party) and the fees and expenses of such counsel will be paid by the indemnifying party.

Appears in 3 contracts

Samples: Bridge Loan and Security Agreement (Eltrax Systems Inc), Registration Rights Agreement (Verso Technologies Inc), Registration Rights Agreement (Verso Technologies Inc)

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Notice; Defense of Claims. Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnificationindemnification and (ii) unless in such indemnified party's reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, and permit such indemnifying party will, upon request of the indemnified party, to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld). An indemnifying party who assumes is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of separate more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the written opinion reasonable judgment of counsel to the any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which case the indemnified party may retain its own counsel (which counsel will be reasonably satisfactory to the indemnifying party) and the fees and expenses of such counsel will be paid by the indemnifying party.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Eventures Group Inc), Registration Rights Agreement (Alterra Healthcare Corp), Registration Rights Agreement (Baseline Oil & Gas Corp.)

Notice; Defense of Claims. Any Person party entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnificationindemnification and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, and permit such indemnifying party will, upon request of the indemnified party, to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld). An indemnifying party shall not settle any claim without the indemnified party's consent, unless such settlement provides solely for the payment of money which is paid by the indemnifying party. An indemnifying party who assumes is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of separate more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the written opinion reasonable judgment of counsel to the any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which case the indemnified party may retain its own counsel (which counsel will be reasonably satisfactory to the indemnifying party) and the fees and expenses of such counsel will be paid by the indemnifying party.

Appears in 1 contract

Samples: Asset Purchase Agreement (UniTek Global Services, Inc.)

Notice; Defense of Claims. Any Person entitled to ------------------------- indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnificationindemnification and (ii) unless in such indemnified party's reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, and permit such indemnifying party will, upon request of the indemnified party, to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld, delayed or conditioned). An indemnifying party who assumes is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of separate more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the written opinion reasonable judgment of counsel to the any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which case the indemnified party may retain its own counsel (which counsel will be reasonably satisfactory to the indemnifying party) and the fees and expenses of such counsel will be paid by the indemnifying party.

Appears in 1 contract

Samples: Registration Rights Agreement (DTM Corp /Tx/)

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Notice; Defense of Claims. Any Person entitled to indemnification hereunder will give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification, and such indemnifying party will, upon request of the indemnified party, assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld). An indemnifying party who assumes the defense of a claim 38 39 will not be obligated to pay the fees and expenses of separate counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the written opinion of counsel to the indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which case the indemnified party may retain its own counsel (which counsel will be reasonably satisfactory to the indemnifying party) and the fees and expenses of such counsel will be paid by the indemnifying party.

Appears in 1 contract

Samples: Bridge Loan and Security Agreement (Eltrax Systems Inc)

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