Common use of Settlement or Compromise Clause in Contracts

Settlement or Compromise. Any settlement or compromise made or caused to be made by the Indemnified Party or the Indemnifying Party (as the case may be) of any Claim shall be binding upon the Indemnifying Party or the Indemnified Party (as the case may be) in the same manner as if a final judgment or decree has been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided however, that no obligation, restriction or loss shall be imposed on an Indemnified Party as a result of such settlement without its prior written consent which consent shall not be unreasonably withheld, and such settlement shall include an unconditional release of the Indemnified Party; and provided further, that the Indemnified Party shall not make or cause to be made any such settlement or compromise without the prior written consent of the Indemnifying Party, which consent shall not unreasonably be withheld. The Indemnified Party will give the Indemnifying Party at least thirty (30) days' prior written notice of any proposed settlement or compromise of any Claim it itself is

Appears in 2 contracts

Samples: Research, Collaboration and Distribution Agreement (Intracel Corp), Research, Collaboration and Distribution Agreement (Intracel Corp)

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Settlement or Compromise. Any settlement or compromise made or caused to be made by the Indemnified Party Person (unless the Indemnifying Person has the exclusive right to settle or compromise under clause (b) of Section 20.2) or the Indemnifying Party (Person, as the case may be) , of any such Third Party Claim shall also be binding upon the Indemnifying Party Person or the Indemnified Party (Person, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided however, that (i) no obligation, restriction or loss Loss shall be imposed on an the Indemnified Party Person as a result of such settlement or compromise without its prior written consent consent, which consent shall not be unreasonably withheld, conditioned or delayed, and such settlement shall include an unconditional release of (ii) the Indemnified Party; and provided further, that the Indemnified Person will not compromise or settle any Third Party shall not make or cause to be made any such settlement or compromise Claim without the prior written consent of the Indemnifying PartyPerson, which consent shall not unreasonably may be withheld. The Indemnified Party will give withheld in the Indemnifying Party at least thirty (30) days' prior written notice of any proposed settlement or compromise of any Claim it itself isPerson’s sole discretion.

Appears in 2 contracts

Samples: Asset Transfer Agreement, Asset Transfer Agreement (GlyEco, Inc.)

Settlement or Compromise. Any settlement or compromise made or caused to be made by the Indemnified Party or the Indemnifying Party (Party, as the case may be) , of any Claim such claim, suit, action or proceeding of the kind referred to in Section 9.7 shall also be binding upon the Indemnifying Party or the Indemnified Party (Party, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided howeverprovided, that (i) no obligation, obligation or restriction or loss shall be imposed on an the Indemnified Party as a result of such settlement or compromise without its prior written consent and no Damage shall be imposed on the Indemnified Party as a result of such settlement or compromise without its prior written consent, which consent shall not be unreasonably withheld, and such settlement shall include an unconditional release of the Indemnified Party; and provided further, that (ii) the Indemnified Party shall will not make compromise or cause to be made settle any such settlement claim, suit, action or compromise proceeding without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably be withheld. The Indemnified Party will give the Indemnifying Party at least thirty (30) days' prior written notice of any proposed settlement withheld or compromise of any Claim it itself isdelayed.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Citizens Communications Co)

Settlement or Compromise. Any settlement or compromise made or caused to be made in accordance with the provisions of this Section 7.3 by the Indemnified Party or the Indemnifying Party (Party, as the case may be) , of any Claim third-party claim shall also be binding upon the Indemnifying Party or the Indemnified Party (Party, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided provided, however, that (i) no obligation, restriction or loss Damages shall be imposed on an the Indemnified Party as a result of any such settlement or compromise without its prior written consent which consent shall not and (ii) no statement or admission that could be unreasonably withhelddetrimental to Buyer, and such settlement shall include an unconditional release of the Indemnified Party; and provided further, that Acquired Assets or the Indemnified Party shall not make or cause to Business may be made as part of any such settlement or compromise without the prior written consent of the Indemnifying Party, which consent shall not unreasonably be withheldBuyer. The Indemnified Party will give the Indemnifying Party at least thirty (30) 30 days' prior written notice of any proposed settlement or compromise of any Claim third-party claim it itself isis defending, during which time the Indemnifying Party may reject such proposed settlement or compromise; provided, however, from and after such rejection, the Indemnifying Party shall be obligated to assume the defense of and full and complete liability and responsibility for such claim and any and all Damages in connection therewith in excess of the amount of unindemnifiable Damages which the Indemnified Party would have been obligated to pay under the proposed settlement or compromise

Appears in 1 contract

Samples: Asset Purchase Agreement (Sterling Construction Co Inc)

Settlement or Compromise. Any settlement or compromise made or caused to be made by the Indemnified Party Person or the Indemnifying Party (Person, as the case may be) , of any Claim such claim, suit, action or proceeding of the kind referred to in Section 14.6 shall also be binding upon the Indemnifying Party Person or the Indemnified Party (Person, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided howeverprovided, that (i) no money damages, obligation, restriction or loss other Loss shall be imposed on an the Indemnified Party Person as a result of such settlement or compromise without its prior written consent consent, which consent shall not be unreasonably withheld, and such settlement shall include an unconditional release of (ii) the Indemnified Party; and provided furtherPerson will not compromise or settle any claim, that the Indemnified Party shall not make suit, action or cause to be made any such settlement or compromise proceeding without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably be withheld. The Indemnified Party , and will give the Indemnifying Party Person at least thirty (30) daysBusiness Days' prior written notice of any proposed settlement or compromise of any Claim it itself isclaim, suit, action or proceeding.

Appears in 1 contract

Samples: Asset Purchase Agreement (Official Information Co)

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Settlement or Compromise. Any settlement or compromise made or caused to be made by the Indemnified Party Person (unless the Indemnifying Person has the exclusive right to settle or compromise under Section 9.6) or the Indemnifying Party (Person, as the case may be) , of any such Third Party Claim shall also be binding upon the Indemnifying Party Person or the Indemnified Party (Person, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided provided, however, that (a) no admission of wrongdoing, exclusion, obligation, restriction or loss Loss shall be imposed on an the Indemnified Party Person as a result of such settlement or compromise without its prior written consent consent, which consent shall not be unreasonably withheld, conditioned or delayed, and such settlement shall include an unconditional release of (b) the Indemnified Party; and provided further, that the Indemnified Party Person shall not make compromise or cause to be made settle any such settlement or compromise Third Party Claim without the prior written consent of the Indemnifying PartyPerson, which consent shall not be unreasonably be withheld. The Indemnified Party will give the Indemnifying Party at least thirty (30) days' prior written notice of any proposed settlement , conditioned or compromise of any Claim it itself isdelayed.

Appears in 1 contract

Samples: Asset Purchase Agreement (Luna Innovations Inc)

Settlement or Compromise. Any settlement or compromise made or caused to be made by the Indemnified Party (unless the Indemnifying Party has the exclusive right to settle or compromise under clause (b) of Section 12.6) or the Indemnifying Party (Party, as the case may be) , of any Claim such claim, suit, action or proceeding of the kind referred to in Section 12.6 shall also be binding upon the Indemnifying Party or the Indemnified Party (Party, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided howeverprovided, that (i) no obligation, restriction or loss Loss shall be imposed on an the Indemnified Party as a result of such settlement or compromise without its prior written consent consent, which consent shall not be unreasonably withheld, and such settlement shall include an unconditional release of the Indemnified Party; and provided further, that (ii) the Indemnified Party shall will not make compromise or cause to be made settle any such settlement claim, suit, action or compromise proceeding without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably be withheld. The Indemnified Party will give the Indemnifying Party at least thirty (30) days' prior written notice of any proposed settlement or compromise of any Claim it itself is.

Appears in 1 contract

Samples: Master Agreement (Archstone Smith Trust)

Settlement or Compromise. Any settlement or compromise made or caused to be made in accordance with the provisions of this Section 8.4 by the Indemnified Party or the Indemnifying Party (Party, as the case may be) , of any Claim third-party claim shall also be binding upon the Indemnifying Party or the Indemnified Party (Party, as the case may be) , in the same manner as if a final judgment or decree has had been entered by a court of competent jurisdiction in the amount of such settlement or compromise; provided provided, however, that (i) no obligation, restriction or loss Damages shall be imposed on an the Indemnified Party as a result of any such settlement or compromise without its prior written consent which consent shall not and (ii) no statement or admission that could be unreasonably withhelddetrimental to Insituform, and such settlement shall include an unconditional release of the Indemnified Party; and provided further, that Assets or the Indemnified Party shall not make or cause to Business may be made as part of any such settlement or compromise without the prior written consent of the Indemnifying Party, which consent shall not unreasonably be withheldInsituform. The Indemnified Party will give the Indemnifying Party at least thirty (30) 30 days' prior written notice of any proposed settlement or compromise of any Claim third-party claim it itself isis defending, during which time the Indemnifying Party may reject such proposed settlement or compromise; provided, however, from and after such rejection, the Indemnifying Party shall be obligated to assume the defense of and full and complete liability and responsibility for such claim and any and all Damages in connection therewith in excess of the amount of unindemnifiable Damages which the Indemnified Party would have been obligated to pay under the proposed settlement or compromise.

Appears in 1 contract

Samples: Merger Agreement (Insituform Technologies Inc)

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