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Form #1071

Indemnification Provision for Waiver

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Indemnification Provision for Waiver - Free Legal Form

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Indemnification provision for waiver.

Indemnification by Seller.

Subject to the terms and conditions of this Article _________, Seller agrees to indemnify, defend and hold harmless Purchaser from and against any demand, claim, action or cause of action, liability, damage and loss, including without limitation, interest, penalty and attorney's fees and expenses, asserted against, relating to, imposed upon or incurred by Purchaser by reason of or resulting from (a) a breach of any representation or warranty of Seller contained in this Agreement or in any document delivered pursuant to it, or (b) a breach of any covenant or agreement of Seller contained in this Agreement or any such document, other than a representation or warranty, or (c) the assertion against Purchaser of any liability or obligation of Seller not expressly assumed by Purchaser.

Indemnification by Purchaser.

Subject to the terms and conditions of this Article _________, Purchaser agrees to indemnify, defend and hold harmless Seller from and against any demand, claim, action or cause of action, liability, damage and loss including without limitation, interest, penalty and attorney's fees and expenses, asserted against, relating to, imposed upon or incurred by Seller by reason of or resulting from (a) a breach of any representation or warranty of Purchaser contained in this Agreement or in any document delivered pursuant to it, or (b) a breach of any covenant or agreement of Purchaser contained in this Agreement or any such document, other than a representation or warranty, or (c) the failure of Purchaser to pay, discharge or perform any liability or obligation expressly assumed by Purchaser.

Conditions of General Indemnification.

The liabilities and obligations of the parties with respect to the general indemnifications shall be subject to the following:

(a). Prompt Notice of Claims. The party seeking indemnification (the "Indemnitee") will give the other party (the "Indemnitor") notice of any claim by a third party which could give rise to a request for indemnification under Section _________ or _________ with reasonable promptness after the Indemnitee receives notice of such claim, in which event the Indemnitor will undertake the defense of the claim by representatives of its own choosing.

(b). Right To Undertake Defense. In the event the Indemnitor, within a reasonable time after notice of any such claim, fails to defend the claim, the Indemnitee will (upon further notice to the Indemnitor) have the right to undertake the defense, compromise or settlement of such claim on behalf of and for the account and risk of the Indemnitor, subject to the right of the Indemnitor to assume the defense of such claim at any time prior to settlement, compromise or final determination.

(c). Indemnitor's Right To Defend Certain Claims. In the event the Indemnitee is defending a claim because it has not given notice under Section _________ (a) or because the Indemnitor has not undertaken the defense of the claim under Section _________ (b) and there is a reasonable probability that any such claim may materially and adversely affect the Indemnitor other than as a result of money damages or other money payments, the Indemnitor will have the right, at its own cost and expense, to defend, compromise or settle such claim but the Indemnitor shall not, without the Indemnitee's written consent, settle or compromise any such claim or consent to entry of any judgment which does not include as an unconditional term claimant's release of the Indemnitee from all liability with respect to such claim.

(d). Indemnitee's Right To Defend Certain Claims. In the event the Indemnitor is defending a claim because it has undertaken the defense of the claim under Section _________ (a) and there is a reasonable probability that any such claim may materially and adversely affect the Indemnitee other than as a result of money damages or other money payments, the Indemnitee will have the right, at its own cost and expense, to defend, compromise or settle such claim but the Indemnitee shall not, without the Indemnitor's written consent, settle or compromise any

such claim or consent to entry of any judgment which does not include as an unconditional term claimant's release of the Indemnitor from all liability with respect to such claim.

Contributed by
Vacuum Technologies LLC
 
Name of Firm Vacuum Technologies LLC
Total Forms Contributed 53
 

See All Vacuum Technologies LLC's Forms
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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