Common use of Procedures; No Waiver Clause in Contracts

Procedures; No Waiver. (a) The party seeking indemnification under Section 11.02 (the "Indemnified Party") agrees to give prompt notice to the party against whom indemnity is sought (the "Indemnifying Party") of the assertion of any claim, or the commencement of any suit, action or proceeding in respect of which indemnity may be sought under such Section. The Indemnifying Party may, and at the request of the Indemnified Party shall, participate in and control the defense of any third party suit, action or proceeding at its own expense. The Indemnifying Party shall not be liable under Section 11.02 for any settlement effected without its consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Lionbridge Technologies Inc /De/), Stock Purchase Agreement (Lionbridge Technologies Inc /De/)

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Procedures; No Waiver. (a) The party seeking indemnification under Section 11.02 9.02 (the "Indemnified Party") agrees to give prompt notice to the party against whom indemnity is sought (the "Indemnifying Party") of the assertion of any claim, or the commencement of any suit, action or proceeding in respect of which indemnity may be sought under such Section. The Indemnifying Party may, and at the request of the Indemnified Party shall, participate in and control the defense of any third party suit, action or proceeding at its own expense. The Indemnifying Party shall not be liable under Section 11.02 9.02 for any settlement effected without its consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder. Notwithstanding the foregoing, no Indemnifying Party shall be entitled to settle any claim, litigation or proceeding unless in connection with such settlement the Indemnified Party receives a complete release with respect to the subject matter of such claim, litigation or proceeding.

Appears in 1 contract

Samples: Asset Purchase Agreement (T Cell Sciences Inc)

Procedures; No Waiver. (a) The party seeking indemnification under Section 11.02 10.02 (the "Indemnified Party") agrees to give prompt notice to the party against whom indemnity is sought (the "Indemnifying Party") of the assertion of any claim, or the commencement of any suit, action or proceeding in respect of which indemnity may be sought under such Section. The Indemnifying Party may, and at the request of the Indemnified Party shall, participate in and control the defense of any third party suit, action or proceeding at its own expense. The Indemnifying Party shall not be liable under Section 11.02 10.02 for any settlement effected without its consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Omni Multimedia Group Inc)

Procedures; No Waiver. (a) The party seeking indemnification under Section 11.02 6.2 (the "Indemnified PartyINDEMNIFIED PARTY") agrees to give prompt notice to the party against whom indemnity is sought (the "Indemnifying PartyINDEMNIFYING PARTY") of the assertion of any claim, or the commencement of any suit, action or proceeding in respect of which indemnity may be sought under such Section. The Indemnifying Party may, and at the request of the Indemnified Party shall, participate in and control the defense of any such third party suit, action or proceeding at its own expense. The Indemnifying Party shall not be liable under Section 11.02 6.2 for any settlement effected without its consent of any claim, litigation litigation, or proceeding in respect of which indemnity may be sought hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Mitokor)

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Procedures; No Waiver. (a) The party seeking indemnification under Section 11.02 9.02 (the "Indemnified Party") agrees to give prompt notice to the party against whom indemnity is sought (the "Indemnifying Party") of the assertion of any claim, or the commencement of any suit, action or proceeding in respect of which indemnity may be sought under such Section. The Indemnifying Party may, and at the request of the Indemnified Party shall, participate in and control the defense of any third party suit, action or proceeding at its own expense. The Indemnifying Party shall not be liable under Section 11.02 9.02 for any settlement effected without its consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Omni Multimedia Group Inc)

Procedures; No Waiver. (a) The party seeking indemnification under Section 11.02 9.02 (the "Indemnified PartyINDEMNIFIED PARTY") agrees to give prompt notice to the party against whom indemnity is sought (the "Indemnifying PartyINDEMNIFYING PARTY") of the assertion of any claim, or the commencement of any suit, action or proceeding in respect of which indemnity may be sought under such Section. The Indemnifying Party may, and at the request of the Indemnified Party shall, participate in and control the defense of any third party such suit, action or proceeding at its own expense. The Indemnifying Party shall not be liable under Section 11.02 9.02 for any settlement effected without its consent of any claim, litigation or proceeding in respect of which indemnity may be sought hereunder.

Appears in 1 contract

Samples: Agreement to Purchase (Incomnet Inc)

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