Examples of Indemnitor in a sentence
Upon the Indemnitor notifying the Agent in writing of its election to assume the defence and retaining counsel, the Indemnitor shall not be liable to an Indemnified Party for any legal expenses subsequently incurred by it in connection with such defence.
In the event that the Indemnitor may be entitled to contribution from the Agent under the provisions of any statute or law, the Indemnitor shall be limited to contribution in any amount not exceeding the lesser of the portion of the amount of Losses giving rise to such contribution for which the Agent are responsible and the amount of the Commission received by the Agent in connection with the Offering.
If such defence is assumed by the Indemnitor, the Indemnitor, throughout the course thereof, shall provide copies of all relevant documentation to the Indemnified Parties, shall keep the Indemnified Parties advised of the progress thereof and shall discuss with the Indemnified Parties all significant actions proposed.
The indemnity given by any one Indemnitor pursuant to this clause will be reduced proportionately to the extent that any negligent act by the Indemnitee or its employees, agents or contractors may have contributed to any injury, death, loss or damage to property referred to in this clause.
The Indemnitor hereby acknowledges that the Agent are acting as trustees for each of the other Indemnified Parties of the Indemnitor's covenants under this indemnity and the Agent agree to accept such trust and to hold and enforce such covenants on behalf of such persons.