Utah Indemnity Agreement between Centra Software, Inc. and officer of corporation
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How to fill out Indemnity Agreement Between Centra Software, Inc. And Officer Of Corporation?
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FAQ
Hear this out loud PauseThe terms of an indemnification agreement ensure that you are not held liable for any contract-related loss or damage outside of your control.
?To indemnify? means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
Hear this out loud PauseA general agreement of indemnity, or GIA, is a contract between the surety company and the contractor and the other indemnitors. The GIA obligates the named indemnitors to protect the surety company from any loss or expense that the surety sustains as a result of having issued bonds on behalf of the bond principal.
To the fullest extent permitted by Applicable Requirements, Landlord shall indemnify and hold Tenant and the other Tenant Parties harmless of and from Claims arising out of or in connection with, or related to the gross negligence or willful misconduct of Landlord or Landlord Parties.
Virtually every commercial lease includes a provision requiring the tenant to indemnify the owner for damages caused by the tenant and the tenant's guests. Some indemnity provisions require the tenant to indemnify the owner for damages caused through no fault of the tenant.
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.
Hear this out loud PauseInsurance ? The indemnification agreement typically will require that the company provide D&O liability insurance that protects the indemnitee to the same extent as the most favorably insured of the company's and its affiliates' current directors and officers.
In a commercial lease, indemnification provisions typically concern third-party claims (i.e., claims by third parties against the landlord, or the tenant, or both) arising from personal injury or property damage occurring in or around the leased premises or the property upon which the leased premises is situated (e.g., ...