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Liability limitation Indemnification clauses can limit the liability of one party, reducing their financial exposure in the event of a loss or damage. Limiting their liability reduces their financial exposure and protects them against potential losses.
The GOL§ 5-322.1 prohibits a party involved in the construction, alteration, maintenance or repair of a building from contracting with another to indemnify or hold it harmless for injuries arising out of its own negligence.
New York's General Obligations Law §5-322.1 prohibits enforcement of an indemnification agreement for damage arising ?out of bodily injuries to persons or damage to property contributed to, caused by, or resulting from the negligence of the promisee, his agents or employees, or indemnitee, whether such negligence be in ...
Indemnity Exceptions. If the alleged infringement is caused as a result of [PARTY B] (a) modifying or altering the Services, or (b) combining the Services with products or services not supplied by [PARTY A], [PARTY A] is not required to indemnify [PARTY B] unless in either case [PARTY A] gave its prior written consent.
An indemnity clause, also known as an indemnification clause, is a standard waiver clause that states that one party won't hold the other liable for damages, losses, or costs associated with incurred legal issues.
Indemnification clauses are generally enforceable, but there are important qualifications. Some courts hold that broad form or ?no fault? indemnifications, which are blind to fault on the part of either party, violate public policy.
Company has no responsibility for claims based on non-Company products and services, items not provided by Company, or any violation of law or third-party rights caused by Client materials, designs, or specifications or Client content.
Indemnification in the context of nonprofit bylaws generally refers to how the nonprofit will protect its directors and other agents in the event they are sued for acting in their capacity as agents of the nonprofit.