Retention of Separate Counsel. If the indemnified party reasonably determines that its interest is or may be adverse to the indemnifying party's or that there may be a legal defense available to the indemnified party that is different from, in addition to or inconsistent with a defense available to the indemnifying party, the indemnified party may retain its own counsel and shall be indemnified by the indemnifying party for any expenses reasonably incurred in investigating or defending the action.
Appears in 12 contracts
Samples: Trading Advisory Agreement, Investment Advisory Agreement (Seneca Global Fund, L.P.), Trading Advisory Agreement (Seneca Global Fund, L.P.)
Retention of Separate Counsel. If the indemnified party reasonably ----------------------------- determines that its interest is or may be adverse to the indemnifying party's or that there may be a legal defense available to the indemnified party that is different from, in addition to or inconsistent with a defense available to the indemnifying party, the indemnified party may retain its own counsel and shall be indemnified by the indemnifying party for any expenses reasonably incurred in investigating or defending the action.
Appears in 3 contracts
Samples: Advisory Agreement (Futures Portfolio Fund Lp), Advisory Agreement (Futures Portfolio Fund Lp), Advisory Agreement (Futures Portfolio Fund Lp)
Retention of Separate Counsel. If the indemnified party reasonably determines that its interest is or may be he adverse to the indemnifying party's ’s or that there may be a legal defense available to the indemnified party that is different from, in addition to or inconsistent with a defense available to the indemnifying party, the indemnified party may retain its own counsel and shall be indemnified by the indemnifying party for any expenses reasonably incurred in investigating or defending the action.
Appears in 2 contracts
Samples: Advisory Agreement (Sage Fund Lp), Advisory Agreement (Sage Fund Lp)
