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Ohio Indemnification of Lessor

Category:
Oil Gas and Minerals - Lease Riders
State:
Multi-State
Control #:
US-OG-801
Format:
Word; 
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Description

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.

Ohio Indemnification of Lessor refers to a legal provision in Ohio's landlord-tenant laws that grants protection to lessors or landlords against any liability or losses arising from their tenants' actions or omissions. This provision is crucial for lessors as it helps safeguard them from potential financial burdens caused by their tenants. Under Ohio law, the Indemnification of Lessor provision can be found in the Revised Code Section 5321.11. This section outlines the rights and responsibilities of both lessors and lessees in the state. Specifically, it addresses the indemnification of lessor, protecting them from legal and financial consequences resulting from tenant-related issues. The Indemnification of Lessor provision applies to various scenarios, such as property damage, personal injury claims, or lawsuits brought against the lessor due to the actions or negligence of the tenant or any other person on the leased premises. By including this provision in the lease agreement, lessors can limit their potential liability and seek reimbursement or compensation for any losses incurred due to tenant misconduct. It is important to note that there may be different types or variations of Ohio Indemnification of Lessor clauses, depending on the specific language used in the lease agreement. Landlords and tenants have the flexibility to negotiate the terms of indemnification according to their needs and preferences. However, the general purpose remains the same — to protect lessors from legal and financial consequences resulting from tenant actions. Keywords: Ohio Indemnification of Lessor, landlord-tenant laws, protection, liability, losses, tenants' actions, omissions, financial burdens, Revised Code Section 5321.11, lessees, property damage, personal injury claims, lawsuits, negligence, lease agreements, potential liability, compensation, tenant misconduct, lease negotiation, indemnification clauses.

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A covenant, promise, agreement, or understanding in, or in connection with or collateral to, a contract or agreement relative to the design, planning, construction, alteration, repair, or maintenance of a building, structure, highway, road, appurtenance, and appliance, including moving, demolition, and excavating ...

SeeC. §153.81(A)(1)(b). Indemnification is limited to claims, damages, or loss, including reasonable attorney fees, costs, and expenses. Ohio follows the American Rule, which states that parties to litigation are to pay for their own attorneys' fees unless there is a specific exception to the rule that applies.

Frequently, indemnification claims arise from express indemnification agreements, but the right to seek indemnification can also be implied at law despite the absence of an agreement. While these doctrines allow one party to shift a loss to another, they generally are strictly enforced.

Indemnification is the assumption of another party's liability under a contract, such as a lease. Therefore, under an indemnification clause, tenants typically agree to reimburse the landlord, or pay directly, ?all losses, claims, suits, liability, and expense? related to a liability situation.

?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.

Lessor shall not be liable for any damage or injury to Lessee, or any other person, or to any property, occurring on the demised premises or any part thereof, and Lessee agrees to hold Lessor harmless from any claims for damages, no matter how caused.

The rule of indemnity, or the indemnity principle, says that an insurance policy should not confer a benefit that is greater in value than the loss suffered by the insured. Indemnities and insurance both guard against financial losses and aim to restore a party to the financial status held before an event occurred.

SeeC. §153.81(A)(1)(b). Indemnification is limited to claims, damages, or loss, including reasonable attorney fees, costs, and expenses. Ohio follows the American Rule, which states that parties to litigation are to pay for their own attorneys' fees unless there is a specific exception to the rule that applies.

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the equipment does not adhere to specifications; or. ○ the lessor does not obtain all of the tax benefits associated with being the tax owner of the equipment. (B) "Landlord" means the owner, lessor, or sublessor of residential premises, the agent of the owner, lessor, or sublessor, or any person authorized by the ...Oct 7, 2013 — If a tenant is storing hazardous materials on the premises, the landlord will want ironclad indemnification from the tenant to hold the landlord ... (1) A brief description of the leased property, sufficient to identify the property to the lessee and lessor and a statement as to whether the property is new, ... Lessor shall hold Lessee harmless for any and all fines, cost of cleanup or any costs incidental to or a consequence of any environmental violations arising out ... "The Government agrees to promptly consider and adjudicate any and all claims which may arise out of use of the Lessor's property by the. Government, duly ... Landlord and Tenant formally extend this Ohio Lease Agreement in writing or create and execute a new, written, and signed Ohio Lease Agreement; or; Landlord ... Jul 2, 2013 — In a general month-to-month tenancy in Ohio, the landlord must give a tenant at least thirty (30) days notice of termination prior to the ... by AJ Gallogly · 2010 · Cited by 1 — by the acts of any person or persons whether representing the lessor or otherwise.” A clause calling for one party to indemnify the other with respect to claims. A large tenant may also be able to persuade a small landlord to waive claims against the tenant for, and to indemnify the tenant against, claims for damage ...

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