Settlement by Company Sample Clauses
The 'Settlement by Company' clause defines the company's right or obligation to settle certain claims, disputes, or payments on behalf of itself or other parties involved. Typically, this clause outlines the procedures the company must follow to resolve outstanding amounts, such as paying creditors, settling legal claims, or distributing funds after a triggering event like dissolution. By specifying how and when settlements are to be made, the clause ensures an orderly process for resolving liabilities, thereby reducing uncertainty and potential conflicts among stakeholders.
Settlement by Company. The Company shall be permitted to settle any action, except that it shall not settle any action or claim in any manner which may impose any penalty or limitation or constitute any admission of wrongdoing or which may compromise, or may adversely effect, the defense of the Indemnitee in any other proceeding, whether civil or criminal, without Indemnitee’s prior written consent. Indemnitee will not unreasonably withhold or delay his consent to any proposed settlement.
Settlement by Company. With respect to a Claim for which the Company is obliged to indemnify the Indemnitee hereunder, the Company may conduct negotiations towards the settlement of such Claim and, with the written consent of the Indemnitee (which the Indemnitee agrees not to unreasonably withhold), the Company may make such settlement as it deems expedient, provided however that the Indemnitee shall not be required, as part of any proposed settlement of such Claim, to admit liability or agree to indemnify the Company in respect of, or make contribution to, any compensation or other payment for which provision is made under the settlement. The Company shall pay any compensation or other payment for which provision is made by such settlement.
Settlement by Company. The Company shall not settle any action or claim in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee’s written consent.
Settlement by Company. The right of any person to be indemnified shall be subject always to the right of the Company, in lieu of such indemnity, to settle any such claim, action, suit or proceeding at the sole expense of the Company by the payment of the amount of such settlement and the costs and expenses incurred in connection therewith.
Settlement by Company. With respect to a Claim for which the Company is obliged to indemnify the Indemnitee hereunder, the Company may conduct negotiations towards the settlement of a Claim (the “Settlement”) and, with the written consent of the Indemnitee (which the Indemnitee agrees not to unreasonably withhold) the Company may make such Settlement as it deems expedient, provided however that the Indemnitee shall not be required, as part of any proposed settlement of a Claim, to admit liability or agree to indemnify the Company in respect of, or make contribution to, any compensation or other payment for which provision is made under the settlement. The Company shall pay any compensation or other payment for which provision is made by such settlement.