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South Carolina Environmental Compliance and Indemnification Undertaking

State:
South Carolina
Control #:
SC-0250
Format:
Word; 
Rich Text
Instant download

Description

This form is a compliance and indemnification agreement with respect to environmental matters ("Environmental Indemnity") from Borrower and Guarantor (collectively, "Indemnitors") in favor of the Lender.
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FAQ

Indemnity is compensation paid by one party to another to cover damages, injury or losses.An example of an indemnity would be an insurance contract, where the insurer agrees to compensate for any damages that the entity protected by the insurer experiences.

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

Building Blocks of an Indemnification Clause. Typical indemnification provisions will be long sentences with many clauses, legal-sounding words, and long lists of specific details. Insurance Implications and Other Contractual Matters. Other Technical Elements of an Indemnification Provision. Takeaway.

It's still your business decision whether you sign them or not, but you should do so only where it is a critical contract that you have no way of modifying or negotiating changes. In contrast, the best kind of Indemnity Agreement is commonly called a Mutual Indemnity Agreement or a Mutual Hold Harmless Provision.

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South Carolina Environmental Compliance and Indemnification Undertaking