Unauthorized Acts. If any Venturer purports to do any act on behalf of the Venturer or to bind the Venture other than in strict compliance with the terms of this Agreement, such Venturer shall be deemed to have breached this Agreement and, in addition to all other liabilities of such Venturer thereby resulting, such Venturer shall, at such Venturer's own cost and expense, indemnify and hold harmless the other Venturers and the Venture from all claims, causes of action, costs, expenses, obligations and liabilities thereby arising.
Appears in 5 contracts
Samples: Joint Venture Agreement (Performance Asset Management Co), Joint Venture Agreement (Performance Asset Management Co), Joint Venture Agreement (Performance Asset Management Co)
Unauthorized Acts. If any Venturer purports to do any act on behalf of the Joint Venturer or to bind the Joint Venture other than in strict compliance with and such action is outside the terms authority of such Venturer as established under this Agreement, then such Venturer shall be deemed to have breached this Agreement and, in addition to all other liabilities of such Venturer thereby resulting, such Venturer shall, at such Venturer's own cost and expense, indemnify and hold harmless the other Venturers and the Venture from all claims, causes of action, costs, expenses, obligations and liabilities thereby arising.
Appears in 1 contract
Samples: Joint Venture Agreement (Performance Asset Management Co)
Unauthorized Acts. If any Venturer purports to do any act on behalf of the Joint Venturer or to bind the Joint Venture other than in strict compliance with and such action is outside the terms authority of such Venturer as established under this Agreement, then such Venturer shall be deemed to have breached this Agreement and, in addition to all other liabilities of such Venturer thereby resulting, such Venturer shall, at such Venturer's own cost and expense, indemnify and hold harmless the other Venturers and the Joint Venture from all claims, causes of action, costs, expenses, obligations and liabilities thereby arising.
Appears in 1 contract
Samples: Joint Venture Agreement (Performance Asset Management Co)
Unauthorized Acts. If any Venturer purports to do any act on behalf of the Joint Venturer or to bind the Joint Venture other than in strict compliance with the terms of this Agreement, such Venturer shall be deemed to have breached this Agreement and, in addition to all other liabilities of such Venturer thereby resulting, such Venturer shall, at such Venturer's own cost and expense, indemnify and hold harmless the other Venturers and the Joint Venture from all claims, causes of action, costs, expenses, obligations and liabilities thereby arising.
Appears in 1 contract
Samples: Joint Venture Agreement (Performance Asset Management Co)