Resolution of Claims. Any Person entitled to indemnification hereunder shall: (a) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification; and (b) 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, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent, which shall not be unreasonably delayed, withheld, or conditioned. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment (with written advice of counsel) of 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.
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Samples: Registration Agreement (Venture Equities Management Inc), Registration Agreement (Universal Automotive Industries Inc /De/)
Resolution of Claims. Any Person entitled to indemnification hereunder shallwill: (ai) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnificationindemnification hereunder; and (bii) unless in such indemnified party's ’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall will not be subject to any liability for any settlement made by the indemnified party without its consent, which shall consent (but such consent will not be unreasonably delayed, withheld, or conditioned). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment (with written advice of counsel) of 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 such indemnified party will be entitled to have the fees and expenses of its separate counsel paid by the indemnifying party.
Appears in 2 contracts
Samples: Registration Rights Agreement (Officemax Inc), Registration Rights Agreement (Officemax Inc)
Resolution of Claims. Any Person entitled to indemnification hereunder shallwill: (ai) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnificationindemnification hereunder; and (bii) 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, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall will not be subject to any liability for any settlement made by the indemnified party without its consent, which shall consent (but such consent will not be unreasonably delayed, withheld, or conditioned). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment (with written advice of counsel) of 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.
Appears in 2 contracts
Samples: Registration Rights Agreement (Pca Valdosta Corp), Contribution Agreement (Tenneco Inc /De)
Resolution of Claims. Any Person entitled to indemnification hereunder shall: will (a) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification; indemnification (provided that the failure of any indemnified party to give notice as provided herein will not relieve the indemnifying party of its obligations under the preceding subsections of this Section 7, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice, and will not relieve the indemnifying party from any liability which it may have to the indemnified party otherwise than under this Section 7) and (b) 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, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall will not be subject to any liability for any settlement made by the indemnified party without its consent, which shall consent (but such consent will not be unreasonably delayed, withheld, or conditioned). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment (with written advice of counsel) of 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.to
Appears in 1 contract
Resolution of Claims. Any Person entitled to indemnification hereunder shallwill: (ai) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnificationindemnification hereunder; and (bii) 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, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall will not be subject to any liability for any settlement made by the indemnified party without its consent, which shall consent (but such consent will not be unreasonably delayed, withheld, or conditioned). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment (with written advice of counsel) of 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 such indemnified party will be entitled to have the fees and expenses of its separate counsel paid by the indemnifying party.
Appears in 1 contract
Samples: Registration Rights Agreement (Boise Cascade Holdings, L.L.C.)