Benefiting Party definition
Examples of Benefiting Party in a sentence
To the extent either party carries such insurance, the Benefiting Party will list the Owning Party as a named insured in its risk management and insurance policies in a manner appropriate to provide coverage benefits for claims arising out of Benefiting Party’s use of Owning Party’s facilities contemplated under this Agreement.
However, to the extent permissible by law and without waiver of sovereign immunity or other defense available by law, the Benefiting Party agrees to indemnify, defend, and hold the Owning Party harmless for claims brought by third parties against the Owning Party based on the uses and access to shared facilities provided for under this Agreement.
The parties hereby acknowledge that, regardless of any investigation made (or not made) by or on behalf of a Benefiting Party, and regardless of the results of any such investigation, the Benefiting Party has entered into these transactions in express reliance upon the representations and warranties of the Representing Party made herein.
The Benefiting Party shall provide program supervision, instructional staff, and security associated with its events and usage of a Facility.
Notwithstanding the foregoing, if a Benefiting Party shall have knowledge as of the date of this Agreement that any of the representations or warranties of the Obligated Party contained herein or in any certificate delivered in connection herewith are false or inaccurate, then the Obligated Party shall not have any liability or obligation respecting such false or inaccurate representations or warranties (and any cause of action resulting therefrom shall terminate upon the Closing).
This agreement is revenue and expense neutral and, as such, the Owning Party will not assess any fees or charges to the Benefiting Party.
The conditions precedent set forth in this Part 7 are for the exclusive benefit of the party to whom they are addressed (the “Benefiting Party”) and may be waived by the Benefiting Party in writing in whole or in part on or before the Closing Date.
Similarly, if the Benefiting Party fails to reimburse Owner for the Additional Capacity, Owner shall have no recourse against the City; however, Owner shall retain all rights against the Benefiting Parties and benefited property, if any.
The Benefiting Party shall not modify, alter, improve, demolish, or otherwise materially change an Owning Party Facility without the express written consent of the Owning Party.
The Benefiting Party will not be provided with keys to Owning Party Facilities.