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Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless agains...
An indemnification provision allocates the risk and expense in case of one party's breach, default, or misconduct. Read how and when to use an indemnification clause.
Feb 1, 2023 · Indemnity clauses are common in contracts, and they shift risk and potential costs from one contractual party to the other. Specifically, an indemnity clause states the conditions under which one party has to compensate the other contractual party for claims, unintentional harms, or other liability that could befall the indemnified party (i.e ...
Indemnification clauses, also known as hold harmless agreements, transfer the liability of one party’s action away from the other. They can include mutual indemnification clauses and one-sided indemnification clauses. They can also define specific terms such as: Indemnity caps. Covered events. Claims terms. Reimbursement terms. Recoverable damages.
May 14, 2021 · An indemnity agreement, also known as a hold harmless agreement, waiver of liability, release of liability, or no-fault agreement, safeguards the indemnified party against loss or damages associated with a third-party business arrangement. There are two parties in an indemnity contract, including the indemnitee and indemnifier.
Feb 25, 2024 · An indemnity clause is standard in the majority of insurance agreements. However, exactly what is covered, and to what extent, depends on the specific agreement. Any indemnity agreement has...
In the indemnity clause, one party commits to compensate another party for any prospective loss or damage. More common is in insurance contracts, in exchange for premiums paid by the insured to the insurer, the insurer offers to compensate the insured for any potential damages or losses.
