PAYMENT OF INDEMNIFYING PARTY. Contemporaneously with any compromise or settlement the indemnifying party shall pay or cause to be paid to the indemnified party or as they may direct, the amount owing under this indemnity with respect to such matter being provided further that: (a) the indemnifying party shall provide further security to the indemnified party in respect of any cost of damages arising in connection with any litigation; and (b) the indemnifying party shall agree to reimburse the indemnified party promptly in respect of all out of pocket expenses incurred by indemnified party in connection with such litigation or pending litigation.
Appears in 4 contracts
Samples: Share Purchase Agreement (Thinkpath Com Inc), Share Purchase Agreement (Internet Cable Corp), Share Purchase Agreement (Internet Cable Corp)
PAYMENT OF INDEMNIFYING PARTY. Contemporaneously with any compromise or settlement the indemnifying party shall pay or cause to be paid to the indemnified party or as they it may direct, the amount owing under this indemnity with respect to such matter matter, it being provided further that:
(a) the indemnifying party shall provide further security to the indemnified party in respect of any cost of damages arising in connection with any litigation; and
(b) the indemnifying party shall agree to reimburse the indemnified party promptly in respect of all out of pocket expenses incurred by indemnified party in connection with such litigation or pending litigation.
Appears in 1 contract
Samples: Contribution Agreement (Astralis Pharmaceuticals LTD)
