Clause for Use in Lease Providing for Indemnification and Release of Lessor for Actions of Lessee

 Clause for Use in Lease Providing for Indemnification and Release of Lessor for Actions of Lessee
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Multi-State
Control #:
US-04413BG
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Description

A release gives up a right, such as releasing one from his/her liability for harm or damage that may occur from performing under a contract, or participating in an activity. Some activities are considered inherently dangerous, and those who participate in such activities may be required to sign a release form, acknowledging that they are assuming the responsibility for their voluntary participation in such activities. The release acts as an assurance to the person requesting the release that they will not be subjected to litigation resulting from the signing party's informed and consensual acts. In a contract an indemnity clause requires that one party indemnify the other, in the event that certain expenses are incurred. Under an indemnity clause one party or both the parties commit to compensate the other or each other for any loss, injury or liability that arises out of the contract.

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