Examples of Indemnity Claims in a sentence
In the event an Indemnity Claim arises prior to final payment to Contractor, the City may, in its sole discretion, reserve, retain or apply any monies due Contractor for the purpose of resolving such Indemnity Claims; provided, however, the City may release such funds if the Contractor provides the City with reasonable assurances of protection of the Indemnitees’ interests.
In addition to the requirements set forth hereinabove, Contractor shall ensure, by written subcontract agreement, that each of Contractor’s Subcontractors of every tier shall protect, defend, indemnify and hold harmless the Indemnitees with respect to Indemnity Claims arising out of, in connection with, or in any way related to each such Subcontractors’ Work on the Project in the same manner in which Contractor is required to protect, defend, indemnify and hold the Indemnitees harmless.
If excessive Direct Debit Indemnity Claims (defined as over 5% of Clients) are received or You commit a breach of this Agreement, We reserve the right to retain Client Collections to mitigate risk exposure to Us and hold on client account.
Any claim under this Clause shall be conducted in accordance with Clause 14.5 (Conduct of Indemnity Claims).
Except for statutes of limitation under applicable law, there are no time limits for Covenant Indemnity Claims.