Third Party Losses definition
Examples of Third Party Losses in a sentence
With respect to all other Third Party Losses in connection with Third Party Claims, where the Indemnifying Party has assumed the defense of the Third Party Claim in accordance with Section 14.3, the Indemnifying Party will have authority to consent to the entry of any judgment, enter into any settlement or otherwise dispose of such Third Party Loss; provided, however, it obtains the prior written consent of the Indemnified Party (which consent will be at the Indemnified Party’s reasonable discretion).
The New Project Assets Owner also may be exposed to third-party claims of the type discussed above under “Risk of Third Party Losses – Not Caused by Hazardous Substances Or Other Pollution Conditions” based on hazardous substances, pollution or contamination claims.
The Indemnified Party will give the indemnifying Party (the “Indemnifying Party”) prompt written notice (an “Indemnification Claim Notice”) of any Third Party Losses or the discovery of any fact upon which such Indemnified Party intends to base a request for indemnification under Section 14.1, but in no event will the Indemnifying Party be liable for any Third Party Losses that result from any delay in providing such notice which materially prejudices the defense of such Third Party Claim.
Genzyme shall indemnify and hold ViroPharma and its directors, officers, employees and agents harmless from and against all Third Party Losses to the extent arising from (a) the breach of any representation, warranty or covenant of Genzyme under this Agreement, or (b) the negligence, recklessness or willful misconduct of Genzyme or its Affiliates; in each case except to the extent that such Third Party Losses are subject to indemnification by ViroPharma pursuant to Section 7(a) above.
INDEMNIFICATION; LIMITATION OF LIABILITY; INSURANCE 98 14.1. General Indemnification by Takeda 98 14.2. General Indemnification by Wave 98 14.3. Category 1 Third Party Losses 99 14.4. Indemnification Procedure 99 14.5. Limitation of Liability 100 14.6. Insurance 100 14.7. Disclaimer 101 15.