New Jersey Indemnification of Lessor

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US-OG-801
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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.

Introduction: New Jersey Indemnification of Lessor is a legal concept that provides protection to lessors in various leasing agreements. It ensures that lessors are safeguarded against any financial liabilities, losses, or damages that may arise during the lease term. Let's delve into this topic in detail and explore different types of indemnification available for lessors in New Jersey. 1. Definition of Indemnification of Lessor: Indemnification of Lessor refers to a legal provision that holds the lessee responsible for compensating the lessor for any losses, damages, or liabilities arising out of the leased property or premises. It acts as a form of insurance for lessors, protecting them from potential financial burdens. 2. Broad Form Indemnification: Broad Form Indemnification is a type of indemnification clause that provides the broadest level of protection to the lessor. It holds the lessee responsible for all claims, damages, or liabilities, regardless of whether they are caused by the lessee's actions or by a third party's actions. This type of indemnification is comprehensive and typically protects the lessor from all possible scenarios. 3. Intermediate Form Indemnification: Intermediate Form Indemnification offers less protection compared to Broad Form Indemnification. It holds the lessee accountable for claims, damages, or liabilities caused by their own actions or their agents, but not for those caused by third parties. This type of indemnification limits the lessor's coverage to situations directly influenced or controlled by the lessee or their representatives. 4. Limited Form Indemnification: Limited Form Indemnification is the most restrictive type and provides minimal protection to the lessor. It holds the lessee responsible only for damages, losses, or liabilities caused solely by their own negligence or willful misconduct. Under this type of indemnification, the lessor assumes more risk, as it may not cover all potential sources of damage or liability. 5. Key Benefits of Indemnification of Lessor: a. Financial Protection: Indemnification clauses safeguard lessors from unforeseen expenses and potential legal battles by shifting the responsibility to the lessee. b. Risk Mitigation: Indemnification reduces the lessor's risk exposure, ensuring their interests are protected throughout the lease term. c. Peace of Mind: Knowing that the lessee is legally obligated to compensate for any potential damages or liabilities provides reassurance to lessors. In conclusion, New Jersey Indemnification of Lessor is a crucial legal concept that offers protection to lessors in leasing agreements. The different types of indemnification, such as Broad Form, Intermediate Form, and Limited Form, determine the extent to which lessors are safeguarded. By including a well-drafted indemnification clause in their lease agreements, lessors can ensure that they are protected from various risks and potential financial burdens.

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§ 2A:40A-1, an indemnitee cannot obtain contractual indemnification for claims arising from the indemnitee's sole negligence. New Jersey courts will enforce indemnification clauses that unequivocally require indemnification for the indemnitee's negligence provided the indemnitee is not the only negligent party.

Licensor shall indemnify and hold harmless the Licensee for any losses, claims, damages, awards, penalties, or injuries (including reasonable attorney's fees) that arise from any alleged breach of the Licensor's representations and warranties made under this Agreement.

Both New York and New Jersey have anti-indemnity statutes restricting the extent to which a party can be indemnified for its own negligence. Under New Jersey law, an indemnification agreement will not be enforced when it requires indemnification for the indemnitee's sole negligence pursuant to NJSA 2A 40-1.

States enacted them to fight an imbalance of negotiating power between upstream and downstream entities. They protect indemnitors from taking on more than their fair share of the risk. Anti-indemnity legislation largely targets the construction industry with 45 states having statutes.

?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.

Forty-three states have some form of law which prohibits a construction contract that requires a subcontractor to indemnify another party for its negligence (but some of these states limit the application of the law, for example, only to public projects).

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, ...

Indemnification clauses can present real challenges in the New Jersey legal system. These elements of contract law are also referred to as ?hold harmless? clauses and are intended to protect one of the parties to the contract from liability caused by the actions or negligence of the other party.

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Jan 7, 2019 — Learn about the best strategy to making your indemnification clause enforceable in NJ. Constructing a clause properly will go a long way for ... “Prior Insurer” means a title insurance company which has issued a policy which is still in effect and which is being requested to indemnify “Current Insurer”.Jan 10, 2019 — Insurance plays a prominent role in all real estate transactions. Stakeholders generally understand that insurance policies must be secured ... Although implied indemnity may arise based on the relationship between the parties, the implied indemnification principal is based upon equitable principles of ... Alaska courts construe contractual indemnity agreements to effectuate the reasonable expectations of the parties to the contract. With regard to indemnification ... by AJ Gallogly · 2010 · Cited by 1 — The concept of a party being liable by operation of law refers to liability which is imposed by rule of law regardless of the party's personal fault or ... It generally contemplates reimbursement by one person or entity of the entire amount of the loss or damage sustained by another. Indemnity takes two forms – ... Jun 2, 2009 — Question about an indemnification provision or a third-party action involving on of your employees against your landlord? Contact Greg Lois. to any lease of real property exempting the lessor from liability for damages for injuries to person or property caused by or resulting from the negligence ... contingency plan reviewed and approved by the department, shall file a new DPCC plan and a ... a new lease financing transaction or substitution of the lessee).

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New Jersey Indemnification of Lessor