Illinois Sample Environmental Indemnity Agreement - Detailed

State:
Multi-State
Control #:
US-0745-WG
Format:
Word; 
Rich Text
Instant download

Description

This is a sample form in which the Indemnitor hereby unconditionally and irrevocably indemnifies and agrees to reimburse, defend, exonerate, pay and hold harmless Lender and its directors, officers, policyholders, shareholders, employees, successors, assigns, agents, contractors, subcontractors, experts, licensees, affiliates, lessees, mortgagees, trustees and invitees, from and against any and all Environmental Damages arising from the presence of Hazardous Materials in, upon, about or beneath the Secured Property or migrating to or from the Secured Property, or arising in any manner whatsoever out of the violation of any Environmental Requirements pertaining to the Secured Property and the activities thereon, or the breach of any warranty or covenant or the inaccuracy of any representation of Indemnitor contained in the Loan Documents pertaining to Hazardous Materials or other environmental matters.
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  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed
  • Preview Sample Environmental Indemnity Agreement - Detailed

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FAQ

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

A release and indemnity agreement, also called an indemnity agreement or a hold harmless agreement, is a legal contract that releases a party from specific liabilities. Essentially, one party in the contract agrees to pay for all potential losses or damages caused by the other party.

An environmental indemnity mitigates a lender's exposure for environmental risks that are associated with real property ownership by indemnifying the lender against all losses associated with environmental compliance, monitoring, and remediations (see Drafting Note, Losses).

$20/Month. The cost of professional indemnity insurance varies considerably. While these policies are extremely common, and typically inexpensive for most industries, the cost can increase significantly for specialized services with much higher risks.

An Indemnity Agreement is a contract between two parties that protects one party from liabilities, losses, claims, and damages during their involvement in an activity.

A common example of indemnification happens with reagrd to insurance transactions. This often happens when an insurance company, as part of an individual's insurance policy, agrees to indemnify the insured person for losses that the insured person incurred as the result of accident or property damage.

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c

Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another 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.

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Illinois Sample Environmental Indemnity Agreement - Detailed