This form provides boilerplate contract clauses that designate the rights of parties to appoint an Indemnitor Representative and outlines such representative's powers and obligations under the contract.
Hawaii Indemnity Provisions - Parties to the Indemnity
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US-ND1006
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How to fill out Indemnity Provisions - Parties To The Indemnity?
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FAQ
Answer: Indemnification language in a contract is traditionally understood to apply only to third party claims and not to ?direct? claims between the parties themselves.
Sub-Clauses As used in this Lease the term "Indemnified Parties" shall mean Lessor, any Fee Mortgagee and their respective successors, assigns, employees, servants, agents, attorneys, officers, directors, shareholders, partners and owners.
Each party (the ?Indemnifying Party?) shall indemnify, defend and hold harmless the other party (the ?Indemnified Party?), its affiliates, and its respective officers, directors, employees, agents, and representatives from and against any and all claims, damages, losses, liabilities, judgments, settlements, costs and ...
For example, agreements that involve the sale of intellectual property rights often include an indemnification by the seller in order to protect the buyer against the potentially large liability associated with an infringement lawsuit by a third party.
party indemnification claim is a claim by the indemnified party for a loss suffered directly. A thirdparty indemnification claim is a claim by the indemnified party for a loss resulting from a claim by a third party.
Letters of indemnity should include the names and addresses of both parties involved, plus the name and affiliation of the third party. Detailed descriptions of the items and intentions are also required, as are the signatures of the parties and the date of the contract's execution.
How to Write an Indemnity Agreement Consider the Indemnity Laws in Your Area. ... Draft the Indemnification Clause. ... Outline the Indemnification Period and Scope of Coverage. ... State the Indemnification Exceptions. ... Specify How the Indemnitee Notifies the Indemnitor About Claims. ... Write the Settlement and Consent Clause.
Example: Third Party Indemnity Clause The service provider shall indemnify the customer against all actions, claims, losses and expenses in respect of loss or damage to third party property arising from the services supplied by the service provider.