What is the language of the mutual indemnification clause?
Each party shall indemnify, defend, protect, hold harmless, and release the other, its officers, agents, and employees, from and against any and all claims, loss, proceedings, damages, causes of action, liability, costs, or expense (including attorneys fees and witness costs) arising from or in connection with, or
How do you write an indemnity statement?
[Company/Business/Individual Name] shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not
What is the wording for mutual indemnification?
Each party shall indemnify, defend, protect, hold harmless, and release the other, its officers, agents, and employees, from and against any and all claims, loss, proceedings, damages, causes of action, liability, costs, or expense (including attorneys fees and witness costs) arising from or in connection with, or
How do you write a mutual indemnification clause?
Examples of Indemnification Clauses Conversely, a mutual indemnification agreement could look something like this: Each party agrees to indemnify, defend, and hold harmless each other for and from any loss or liability arising out of the partys bdocHub of this contract.
How do you draft an indemnity clause?
Party A shall indemnify, defend and hold harmless Party B against any and all loss arising out of, by reason of, in connection with or as a result of third-party claims in connection with intellectual property that is the subject matter of license under this agreement.
Should indemnification clauses be mutual?
Many clients insist on unilateral indemnification clauses, basically putting all potential liability solely on a contractors shoulders. The latter should insist on a mutual indemnification clause, where both parties are responsible for liabilities that arise out of their own fault.
What is the text of the indemnity clause?
The Company shall indemnify, defend, and hold harmless the Ramot Indemnitees against any liability, damage, loss, or expense (including reasonable attorneys fees and expenses of litigation) incurred by or imposed upon any of the Ramot Indemnitees in connection with any third party claims, suits, actions, demands or
What is the wording of an indemnity?
The indemnity was worded as follows: The Seller undertakes to indemnify the Buyer from any liabilities costs claims demands or expenses which [it] may suffer or incur arising directly or indirectly from any services or products supplied prior to the Transfer Date.
What is a mutual indemnification?
Mutual Indemnification: Each party to the contract agrees to indemnify the other for their respective actions under the contract. Each party then indemnifies and holds harmless the other for any loss or liability the other incurs because of its actions under the contract.
What is a simple example of indemnity?
A typical example is an insurance company wherein the insurer or indemnitor agrees to compensate the insured or indemnitee for any damages or losses he/she may incur during a period of time.
