Common use of Settlements Without the Prior Consent of NAI Clause in Contracts

Settlements Without the Prior Consent of NAI. (a) Except as otherwise provided in subparagraph 5(D)(4)(b), if any Interested Party settles any tort claim for which it is entitled to be indemnified by NAI without NAI’s consent, then NAI may, by notice given to the Interested Party no later than ten days after NAI is notified of the settlement, elect to pay Reasonable Settlement Costs to the Interested Party in lieu of a payment or reimbursement of actual settlement costs. (With respect to any tort claim asserted against an Interested Party, “

Appears in 8 contracts

Samples: Lease Agreement (NetApp, Inc.), Lease Agreement (Network Appliance Inc), Participation Agreement (Network Appliance Inc)

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Settlements Without the Prior Consent of NAI. (a) Except as otherwise provided in subparagraph 5(D)(4)(b), if any Interested Party settles any tort claim for which it is entitled to be indemnified by NAI without NAI’s consent, then NAI may, by notice given to the Interested Party no later than ten days after NAI is notified of the settlement, elect to pay Reasonable Settlement Costs to the Interested Party in lieu of a payment or reimbursement of actual settlement costs. (With respect to any tort claim asserted against an Interested Party, “

Appears in 1 contract

Samples: Participation Agreement (Network Appliance Inc)

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