Examples of Indemnified Person in a sentence
For purposes of this Section 6.4, each director, officer and employee of such Underwriter or the Company, as applicable, and each Indemnified Person, if any, who controls such Underwriter or the Company, as applicable, within the meaning of Section 15 of the Securities Act shall have the same rights to contribution as such Underwriter or the Company, as applicable.
Notwithstanding anything to the contrary contained herein, if any Indemnified Person shall assume the defense of such action as provided above, the Indemnifying Person shall have the right to approve the terms of any settlement of such action which approval shall not be unreasonably withheld.
If any Indemnified Person makes any payment to any other Indemnified Person with respect to an Indemnified Liability as to which Borrowers were required to indemnify the Indemnified Person receiving such payment, the Indemnified Person making such payment is entitled to be indemnified and reimbursed by Borrowers with respect thereto.
The foregoing to the contrary notwithstanding, no Borrower shall have any obligation to any Indemnified Person under this Section 10.3 with respect to any Indemnified Liability that a court of competent jurisdiction finally determines to have resulted from the gross negligence or willful misconduct of such Indemnified Person or its officers, directors, employees, attorneys, or agents.