Rhode Island Form of Indemnification Agreement by Kyle Technology Corp. is a legal document that outlines the terms and conditions under which Kyle Technology Corp. agrees to indemnify and hold harmless individuals or entities in Rhode Island against any losses, damages, or liabilities incurred, directly or indirectly, in relation to their services or acts performed on behalf of the company. This agreement acts as a legally binding contract that provides protection to the indemnities, ensuring that if any legal actions, claims, or demands arise against them due to their association with Kyle Technology Corp., the company will assume responsibility and bear the financial burden arising from such actions. The Rhode Island Form of Indemnification Agreement by Kyle Technology Corp. includes various key provisions that emphasize the scope and limitations of indemnification. These provisions typically cover: 1. Indemnification Scope: Clearly defining the situations in which indemnification applies, such as claims arising due to negligence, breach of duty, or violation of laws. 2. Defense Obligations: Describing the obligations of Kyle Technology Corp. to provide legal defense to the indemnities in case of a lawsuit or other legal proceedings. 3. Limitations on Indemnification: Specifying any limitations on the extent of indemnification, such as situations where the indemnity is found guilty of intentional misconduct or gross negligence. 4. Indemnification Procedures: Outlining the process for indemnities to request indemnification, including providing notice of potential claims and cooperating in the defense. 5. Legal Expenses: Addressing the reimbursement of litigation costs and attorney fees incurred by the indemnities while defending themselves against claims covered by the agreement. 6. Severability: Stating that if any provision in the agreement is deemed unenforceable, the remaining provisions will still be upheld. It is important to note that while the key principles of indemnification remain consistent, there may be variations in the language and specific provisions of the Rhode Island Form of Indemnification Agreement by Kyle Technology Corp., depending on factors such as the nature of the service provided, the industry involved, or the specific context of the agreement.
Rhode Island Form of Indemnification Agreement by Kyle Technology Corp.
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How to fill out Rhode Island Form Of Indemnification Agreement By Kyle Technology Corp.?
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On this page you'll find 61 synonyms, antonyms, and words related to indemnification, such as: compensation, indemnity, restitution, benefit, counterclaim, and coverage.
Example: Indemnify and Hold Harmless Clause The supplier agrees to indemnify and hold harmless the customer against all claims arising in respect of any injury, death, sickness or ill-health caused to or suffered by the customer and its personnel as a result of performance or non-performance of this Agreement.
An indemnity agreement is a contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction.
Service Provider hereby releases, indemnifies, defends and holds harmless Owner and the other Owner Indemnified Parties from and against any and all Liabilities (a)to the extent attributable to or arising out of the gross negligence or willful misconduct of any Service Provider Indemnified Parties or (b)for personal ...
An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.
Each party shall indemnify the other party from any and all claims, causes of action, suits, damages or demands whatsoever, arising out of any breach of this agreement by the indemnifying party.
How to Write an Indemnity Agreement Consider the Indemnity Laws in Your Area. ... Draft the Indemnification Clause. ... Outline the Indemnification Period and Scope of Coverage. ... State the Indemnification Exceptions. ... Specify How the Indemnitee Notifies the Indemnitor About Claims. ... Write the Settlement and Consent Clause.
Example of Indemnity in Business If the building sustains significant structural damages from fire, then the insurance company will indemnify the owner for the costs to repair by way of reimbursing the owner or by reconstructing the damaged areas using its own authorized contractors.