Common use of Participation and Control Clause in Contracts

Participation and Control. Once the Indemnified Party has given notice of a claim or potential claim under Section 8.3, the Indemnifying Party will be entitled to participate therein and, to the extent desired, to assume the defense thereof with counsel of its choice, provided that the Indemnified Party may participate in (but not control) such defense. If the Indemnifying Party does not assume the defense of any claim, the Indemnified Party will have the right to undertake the defense of such claim, by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party (subject to the right of the Indemnifying Party to assume the defense of such claim at any time prior to settlement, compromise or final determination thereof).

Appears in 13 contracts

Samples: Services Agreement, Services Agreement, Services Agreement (World Monitor Trust Ii Series D)

AutoNDA by SimpleDocs

Participation and Control. Once the Indemnified Party has given notice of a claim or potential claim under Section 8.39.3, the Indemnifying Party will be entitled to participate therein and, to the extent desired, to assume the defense thereof with counsel of its choice, provided that the Indemnified Party may participate in (but not control) such defense. If the Indemnifying Party does not assume the defense of any claim, the Indemnified Party will have the right to undertake the defense of such claim, by counsel or other representatives of its own choosing, on behalf of and for the account and risk of the Indemnifying Party (subject to the right of the Indemnifying Party to assume the defense of such claim at any time prior to settlement, compromise or final determination thereof).

Appears in 2 contracts

Samples: Services Agreement (AlphaMetrix Managed Futures III LLC (AlphaMetrix WC Diversified Series)), Services Agreement (AlphaMetrix Managed Futures III LLC (AlphaMetrix WC Diversified Series))

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.