RISK AND INDEMNITIES. 7.1 The Lead Commissioner will manage the risk in accordance with current contractual arrangements, including any financial overspend or underspend. 7.2 The Host and other Partners shall be required to inform the Steering Group of any likely risks in relation to the Pooled Fund. Partners shall also be required to develop a recovery plan for resolving risks and bringing the plan back into balance. 7.3 Each Partner (the "Indemnifying Partner") shall indemnify and keep indemnified the other Partner (the "Indemnified Partner") against all actions, proceedings, costs, claims, demands, liabilities, losses and expenses whatsoever, whether arising in tort (including negligence), default or breach of this Agreement, to the extent that any loss or claim is due to the breach of contract, negligence, wilful default or fraud of itself, the Indemnifying Partner's employees, or any of its Representatives or sub-contractors, except to the extent that the loss or claim is directly caused by or directly arises from the negligence, breach of this Agreement, or applicable Law by the Indemnified Partner or its Representatives.
Appears in 4 contracts
Samples: Partnership Agreement, Partnership Agreement, Partnership Agreement
