Examples of Third Party Proceedings in a sentence
Skydance will pay arbitration costs as required by the JAMS Consumer Arbitration Minimum Standards and consistent with Paragraph 6 (Declaratory or Injunctive Relief; Third Party Proceedings) below.
With regard to any Third Party Proceedings, any right of the Indemnifying Party to control such Third Party Proceeding will be subject, as a condition precedent, to such Indemnifying Party acknowledging to the Indemnified Party, in writing, the obligation of the Indemnifying Party to indemnify the applicable Indemnified Party thereto in accordance with the terms of this Agreement.
Without limitation to the foregoing, the Managing Party of each Jointly-owned Entity shall notify the other party promptly upon becoming aware of any Third Party Proceedings involving any such Jointly-owned Entity which may give rise to a liability of US$1 million or more and shall keep the other party informed of any material developments in relation to such Third Party Proceedings.
The Escrow Shares shall be held by the Escrow Agent as security and satisfaction for any Damages or Payment Damages incurred from time to time by any of the Indemnified Persons and for which the Indemnified Persons are entitled to recover pursuant to the provisions of SECTION 10.1 (Damages) and SECTION 10.3 (Revenue Performance Requirement) and shall secure the requirements of SECTION 10.4 (Procedure for Indemnification -- Third Party Proceedings) of the Asset Purchase Agreement.
The provisions of this Clause 6.2 shall have effect for the purposes of Third Party Proceedings which relate to Shared Tax Cost subject to the provisions of paragraph 4 of Schedule 5.