Nebraska Surface Use Agreement refers to a legally binding contract between a surface owner and an oil and gas company that outlines the terms and conditions regarding the exploration and production activities on the surface owner's land in Nebraska. This agreement contains specific provisions related to indemnity, which is a crucial aspect to protect both parties involved. The Nebraska Surface Use Agreement, when it contains provisions relative to indemnity, provides a comprehensive framework to minimize the liability and risks associated with oil and gas operations. It ensures that both the surface owner and the oil and gas company are protected from potential damages, accidents, and legal disputes that may arise during the exploration and extraction processes. Key provisions in this agreement involve indemnity, which facilitates the allocation of responsibility and compensation for any damages or losses incurred. These provisions ensure that the oil and gas company indemnifies the surface owner against any claims, liabilities, or costs arising from their operations. Similarly, the agreement may also include clauses to protect the oil and gas company from any claims, liabilities, or costs resulting from the surface owner's actions or any previously existing conditions on the land. Different types of Nebraska Surface Use Agreements containing provisions relative to indemnity may include: 1. Standard Indemnity Agreement: This agreement serves as a general template that outlines the standard terms and conditions regarding indemnity obligations for both the surface owner and the oil and gas company. 2. Tailored Indemnity Agreement: This type of agreement is specifically customized to address the unique circumstances and specific needs of the surface owner and the oil and gas company. It may include negotiated provisions that deviate from the standard agreement to ensure both parties' interests are adequately protected. 3. Indemnity Agreement with Environmental Clauses: In cases where the surface owner is concerned about potential environmental impacts, this agreement includes additional provisions related to environmental indemnity. It may cover the cost of any pollution remediation, restoration, or monitoring activities, ensuring that both parties are indemnified in the event of environmental damages. 4. Indemnity Agreement with Compensation for Surface Damages: In situations where surface damages occur during the oil and gas operations, this type of agreement provides provisions for compensating the surface owner for any disturbances, destruction, or losses caused by the activities. It outlines the process for valuation and reimbursement of damages incurred. In summary, the Nebraska Surface Use Agreement that contains provisions relative to indemnity is a crucial document that protects the interests of both the surface owner and the oil and gas company. It outlines the responsibilities, liabilities, and compensation mechanisms to ensure a fair and equitable relationship between the parties involved in oil and gas exploration and production activities on Nebraska lands.
Nebraska Surface Use Agreement (Contains Provisions Relative to Indemnity)
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How to fill out Nebraska Surface Use Agreement (Contains Provisions Relative To Indemnity)?
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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.
The differences between the duty to indemnify and to defend, while nuanced, are critically important. The obligation to indemnify arises once a judgment has been entered, whereas the obligation to defend is triggered as soon as a claim is filed against the indemnitee.
A ?release? is a discharge of obligations. An ?indemnity? is an undertaking or a legally binding promise whereby one party agrees to accept the risk of loss or damage the other party may incur as a result of a transaction or event occurring. Indemnity is a type of security for financial loss or damage.
Indemnifications, or ?hold harmless? provisions, shift risks or potential costs from one party to another. One party to the contract promises to defend and pay costs and expenses of the other if specific circumstances arise (often a claim or dispute with a third party to the contract).
Upon the occurrence of any Event for which you may become entitled to indemnity in ance with the above, the Company shall make available to you, from time to time, the amounts of money required to cover the various expenses and other payments involved in the handling of any legal proceedings against you in ...
The Contractor shall defend, indemnify and hold the County, its officers, officials, employees and volunteers harmless from any and all claims, injuries, damages, losses or suits including attorney fees, arising out of or in connection with the performance of this Agreement, except for injuries and damages caused by ...
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 indemnification clause should clearly define the following elements: who are the indemnifying party and the indemnified party, what are the covered claims or losses, what are the obligations and duties of each party, and what are the exclusions or limitations of the indemnity.