Examples of Indemnified Person in a sentence
Without prejudice to the aforesaid, the Indemnified Person shall not be entitled to indemnification, damages or other payment from the aforementioned Indemnifying Person in respect of any claims unless the aggregate of all such claims collectively against such Indemnifying Person exceeds INR 1,70,00,000 (Indian Rupees One Crore Seventy Lakhs) (“Deductible”) after which the aforementioned Indemnified Person shall only be entitled to claim the amount of Loss suffered or incurred that exceeds the Deductible.
The Company also agrees to reimburse and advance each Indemnified Person for all Expenses as they are incurred in connection with such Indemnified Person's enforcement of his or its rights under this Section 16.
The Indemnifying Person under this Section 9 shall not be liable for any settlement of any proceeding effected without its written consent, which consent may not be unreasonably withheld, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify the Indemnified Person from and against any loss, claim, damage, liability or expense by reason of such settlement or judgment.
It is clarified that the Indemnified Person may at their discretion make claims as they arise but shall be entitled to receive payment from the aforementioned Indemnifying Person only once the aggregate of all such claims exceeds the Deductible.
The Company shall keep the Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto.