Common use of Settlement of Claim Clause in Contracts

Settlement of Claim. The indemnifier agrees not to settle or compromise or consent to the entry of any judgement in any Claim without first obtaining the written consent of all indemnified parties, which consent will not be unreasonably withheld. Such a settlement, compromise or consent will include an unconditional release of the indemnifier and each of the indemnified parties from all liability arising out of such Claim.

Appears in 4 contracts

Samples: Share Purchase Agreement (Poly Shield Technologies Inc.), Share Purchase Agreement (Poly Shield Technologies Inc.), Disposal Agreement (Pioneer Exploration Inc.)

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Settlement of Claim. The indemnifier Indemnifier agrees not to settle or compromise or consent to the entry of any judgement judgment in any Claim without first obtaining the written consent of all indemnified partiesIndemnified Parties, which consent will not be unreasonably withheld. Such a settlement, compromise or consent will include an unconditional release of the indemnifier Indemnifier and each of the indemnified parties Indemnified Parties from all liability arising out of such Claim.

Appears in 1 contract

Samples: Divestiture and Share Purchase Agreement (Poly Shield Technologies Inc.)

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