First Party definition

First Party. Second Party:

First Party means [insert name of purchaser];

First Party means (a) the Insured or any officer, employee or agent of the Insured or (b) any of the following Persons: the correspondent lender, mortgage loan broker or other intermediary underwriting or originating the Loan on behalf of the Insured or originating lender, or escrow or closing agents or anyone under contract with the Insured or originating lender in connection with the origination of such Loan, such as an appraiser.

Examples of First Party in a sentence

• Each Party (a “First Party”) will indemnify, defend and hold harmless the other Party against any liability, claim, demand and expense (including, without limitation, legal and other professional fees) arising from or relating to any failure of the First Party to fully perform any of its obligations under this Contract.

• The First Party shall not be liable for any consequences resulting from the use or inability to use this training by the First Party.

• None of the Owned IP or First Party Licensed IP, or to the Selling Parties’ Knowledge, the Third Party Licensed IP, is the subject of any Order, settlement or other disposition of any dispute that restricts or impairs the Company’s use or exploitation of the Company IP, now or in the future.

• None of the Owned IP or First Party Licensed IP or, to the Selling Parties’ Knowledge, the Third Party Licensed IP, has been held to be invalid or unenforceable in a court decision that is not appealed or non-appealable by the Company or the Selling Parties or any of their respective Affiliates, or by any Third Party licensor thereof.

• No opposition, extension of time to oppose, interference, derivation, rejection, or refusal to register has been filed or issued in connection with any Owned IP or First Party Licensed IP or, to the Selling Parties’ Knowledge, Third Party Licensed IP, other than a grant refusal communication or a registration refusal communication issued by a Governmental Authority.

More Definitions of First Party

First Party has the meaning given to it in Clause 10.10;

First Party has the meaning set forth in Section 7.4(5).

First Party has the meaning set forth in Section 10.3(c).

First Party shall have the meaning set forth in Section 4.3.

First Party has the meaning given to it in Section 9.8;

First Party means, with respect to a Loan, the initial or any subsequent Insured, and any Person who originated or participated in the origination of the Loan, including correspondent lenders, mortgage loan brokers, underwriters and processors, escrow and closing agents, appraisers, and agents (including employees) of any Insured or of any such Persons. Notwithstanding the foregoing, the Borrower is not a First Party and after thirty- six (36) Payments are made on the Loan an appraiser not affiliated with any other First Party shall no longer be a First Party.

First Party has the meaning attributed to it in Section 16.3.