This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Indiana Indemnification of Lessor
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Multi-State
Control #:
US-OG-801
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Word;
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How to fill out Indemnification Of Lessor?
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FAQ
Under Indiana law, ?[a]n indemnity agreement involves a promise by one party (the indemnitor) to reimburse another party (the indemnitee) for the indemnitee's loss, damage, or liability.?[1] Despite this relatively simple definition, indemnification provisions in contracts are often referred to as ?gotcha? provisions, ...
While one party may not have been 100% ?at fault? or ?solely negligent? for an injury, if the claim arose out of one of these ?nondelegable duties?, Indiana's Anti-Indemnity Statute would void any indemnity agreement that attempted to shift that burden onto another party.
Indemnification is the assumption of another party's liability under a contract, such as a lease. Therefore, under an indemnification clause, tenants typically agree to reimburse the landlord, or pay directly, ?all losses, claims, suits, liability, and expense? related to a liability situation.
Section 26-2-5-1 - "Construction or design contract"; indemnity agreements against public policy as void and unenforceable; exceptions (a) As used in this section, "construction or design contract" includes a design-build contract under which all of the following for the same project are included: (1) Architectural, ...
Indemnity clauses are essential tools in commercial contracts, providing financial protection and clarity in the event of unforeseen circumstances. However, their enforceability depends on various factors, and careful drafting and review are crucial to their effectiveness.
?Indemnify,? on the other hand, means that if the landlord is sued by the injured customer, the tenant agrees to reimburse them for costs incurred as a result of the lawsuit. ?Defend,? however, means that tenant is responsible for defending the landlord from lawsuits.
Indiana Code §26-2-5-1 provides that any provision in a construction or design contract which purports to indemnify the indemnitee against liability for (1) death or bodily injury to persons; (2) injury to property; or (3) design defects; from the sole negligence or willful misconduct of the promise, is against public ...
Lessee shall indemnify Lessor against, and hold Lessor harmless from, any and all claims, actions, suits, proceedings, costs, expenses, damages, and liabilities, including attorneys fees, arising out of, connected with, or resulting from the equipment or the Lease, including without limitation, the manufacture, ...