Definition of indemnified party

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August undefined, 2024

WebIndemnification definition, the act of indemnifying; state of being indemnified. See more. WebJul 24, 2024 · Indemnification, according to the court, is “an offensive right—a sword—allowing the indemnitee to seek indemnification.” On the other hand, hold harmless is a defensive measure providing “[t]he right not be bothered by the other party itself seeking indemnification.”

Indemnification Clause: Meaning & Samples (2024)

WebAug 27, 2015 · What is Indemnity. While the term indemnify is a verb, referring to the act of compensating someone for loss, the term indemnity is a noun, referring to the agreement … WebJul 29, 2024 · Indemnification provisions are common in many contracts. At first glance, these provisions can all appear to be roughly the same. But hidden in a “standard” indemnification term can be language that shifts … lowes appliance sale 2017

Indemnify Definition & Meaning - Merriam-Webster

WebIndemnification is the assurance that one party to a contact will make the other party whole for any liability, damage, or loss incurred by another. Simply put, indemnify means … WebOct 30, 2024 · Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as … WebIndemnified Parties has the meaning set forth in Section 6 (a). Indemnified Parties shall have the meaning assigned to such terms in Section 2 (b). Indemnified Parties means Her Majesty the Queen in right of Ontario, Her ministers, agents, appointees, and employees. hors piste chatel

Indemnified Parties Definition: 14k Samples Law Insider

Indemnification Definition & Meaning - Merriam-Webster

WebTypical Indemnity Clause. This is an example of what a typical indemnification clause can look like: “Party A will perform work at own risk, and indemnifies Party B against all loss, damages, expense, and liability resulting from injury to property." In this example, Party … WebJul 15, 2024 · An indemnification agreement is a type of agreement where one or more parties to a contract look to be compensated for losses or damages in certain … hors piste chic chocWebExamples of Indemnified Party in a sentence. The Indemnified Party may also participate in the defense at its own expense.. The Indemnifiable Losses shall be reimbursed by the … hors piste chamonix

"WebSample Clauses. Indemnified Parties. As used in this Lease the term "Indemnified Parties" shall mean Lessor, any Fee Mortgagee and their respective successors, assigns, … " - Definition of indemnified party

Definition of indemnified party

When an “Indemnified Party” Isn’t an Indemnified Party

WebAny deductibles, baskets, or thresholds that apply to shift the risk back to the indemnified party until the specified level of damages have accrued. The relationship between the indemnification clause and other provisions in the contract, for example, any: 11. Any statutory, common law, or public policy barriers to indemnification, such as any ... WebIn contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party.The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, …

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WebApr 23, 2008 · First, section 5 defines “indemnified party” as meaning Wal-Mart and its employees, officers, contractors, and affiliates, regardless of whether they’re entitled to … WebIndemnification clauses vary widely, but in a typical indemnification provision, the indemnifying party promises to reimburse the indemnified party from and against "losses, liabilities, claims, and causes of action" (recoverable damages) incurred by the indemnified party that "are caused by," "arise from," or are "related to" (nexus phrase ...

WebMay 5, 2024 · Indemnification is the practice of guaranteeing a third party claim against your counterparty. Imagine that you have a contract with a staffing agency to supply … Webindemnified definition: 1. past simple and past participle of indemnify 2. to pay or promise to pay someone an amount of…. Learn more.

WebDec 1, 2024 · Indemnification clauses are ubiquitous in commercial agreements of all types. In the M&A context, indemnification is a concept that applies most frequently in the contractual remedies regimes that are provided in private company acquisition agreements for breaches of representations and warranties, or for excluded liabilities. … WebIndemnification hereunder is contingent upon (a) the party(ies) to be indemnified (the “indemnified party(ies)”) promptly notifying the other party(ies) (the “indemnifying party(ies)”) of a claim, (b) the indemnifying party(ies) having sole control of the defence and settlement of any such claim, and (c) the indemnified party(ies) providing reasonable …

WebWilful misconduct by the indemnified party; Fraud or illegal acts by the indemnified party; Deliberate acts or omissions by the indemnified party; and; Improper use of the product by the indemnified party. If any of these circumstances are proven to be true, the indemnifying party is not obligated to compensate the party claiming the right to ...

WebExamples of Indemnified in a sentence. No Fund shall have any joint or several obligation with any other Fund to reimburse or indemnify an Indemnified Party for any action, event, matter or occurrence performed or omitted by or on behalf of the Adviser in its capacity as agent or attorney-in-fact of Trust acting on behalf of any other Fund hereunder.. In the … hors piste annecyWebThe meaning of INDEMNIFICATION is the action of indemnifying. the action of indemnifying; the condition of being indemnified; indemnity… See the full definition ... lowes appliances ac window unitWebOct 28, 2024 · Indemnification means one party agrees to pay losses incurred by another to a third party. For example, if you were a business … hors piste rouge-mattawinWebJul 29, 2024 · Indemnification provisions are common in many contracts. At first glance, these provisions can all appear to be roughly the same. But hidden in a “standard” … hors pistes annecyWebIndemnification Clause Defined. 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. lowes appliances air conditioners and heatWebDefine indemnified. indemnified synonyms, indemnified pronunciation, indemnified translation, English dictionary definition of indemnified. tr.v. in·dem·ni·fied , in·dem·ni·fy·ing , in·dem·ni·fies 1. To protect against damage, loss, or injury; insure. 2. To make compensation to for damage, loss,... hors piste romanWebThe party that provides the protection is the indemnitor, while the party protected is the indemnitee.‌ ‌ Indemnity agreements usually work in either or both of the following ways:‌ To protect the indemnified party from any liability arising from third party claims; To prevent the indemnitor from making any claim against the indemnified party hors piste flaine