Examples of Owner Indemnified Party in a sentence
Each AP Indemnified Party and Managing Owner Indemnified Party, to the extent it is not a party to this Agreement, is a third-party beneficiary of this Agreement (each, a “Third Party Beneficiary”) and may proceed directly against any party hereto (including by bringing proceedings against the parties hereto in its own name) to enforce any obligation of such party under this Agreement which directly or indirectly benefits such Third Party Beneficiary.
Nothing contained herein shall prohibit the Owner Indemnified Party or Servicer Indemnified Party, at its expense, from retaining its own counsel to assist in any such proceedings or to observe such proceedings; provided that neither party shall be obligated to pay or comply with any settlement to which it has not consented.
All amounts required to be paid or reimbursed by the Indemnitor hereunder shall be paid or reimbursed as and when incurred by the Owner or Servicer Indemnified Party, upon demand therefore by such Owner Indemnified Party or Servicer Indemnified Party.
Servicer shall have no obligation to indemnify, defend or hold any Owner Indemnified Party harmless in the event that any Losses result from the negligent or wrongful acts or omissions of such person or its respective agents or employees.
To the extent allowed by law, the indemnity set forth in this Section 19 shall apply to any Claims arising or claimed to have arisen in whole or in part out of the negligence of any Owner Indemnified Party, including without limitation, the negligent violation of any duty imposed by statute, ordinance, regulation, or law, but shall not apply, as to a particular Owner Indemnified Party, to any such Claims to the extent caused by or resulting from the negligence of such Owner Indemnified Party.