Travis Texas Release of Donor or Real Property, Waiver of Liability, and Promise to Indemnify

Name: Travis Texas Release of Donor or Real Property, Waiver of Liability, and Promise to Indemnify
Brand: US Legal Forms
Rating: 4.57 (312 reviews)

Category:

Real Estate - Releases and Waivers

State:

Multi-State

County:

Travis

Control #:

US-01689BG

Format:

Instant download

Description

A waiver or release is the intentional and voluntary act of relinquishing something, such as a known right to sue a person, educational institution, or organization for an injury. The term waiver is sometimes used to refer a document that is signed before any damages actually occur. A release is sometimes used to refer a document that is executed after an injury has occurred.

Courts vary in their approach to enforcing releases depending on the particular facts of each case, the effect of the release on other statutes and laws, and the view of the court of the benefits of releases as a matter of public policy. Many courts will invalidate documents signed on behalf of minors. Also, Courts do not permit persons to waive their responsibility when they have exercised gross negligence or misconduct that is intentional or criminal in nature. Such an agreement would be deemed to be against public policy because it would encourage dangerous and illegal behavior.

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FAQ

An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c

The main difference between releases and waivers is the transferring of ownership. When rights are released, they are transferred to another party. When rights are waived, they are gone altogether. If intellectual property rights are waived, the IP can be used by any other party that has access to it.

A hold harmless clause is also called a release of liability, a waiver of liability, a save harmless clause, or a hold harmless letter or release. These agreements are usually seen in leases, contracts, and easements, in an attempt to protect either one party or both.

A waiver and release agreement is a legal document that releases a party from liability and creates an enforceable promise for one party to not take legal action against another.

A release is a type of contract in which you agree that you have no claims of any type against the party named in the release. Releases are often used in connection with a settlement of legal claims.

A waiver is a demonstration, usually in written form, of a party's intent to relinquish a legal right or claim. The key point to note is that the relinquishment is voluntary, and can apply to a variety of legal situations. Essentially, a waiver removes a real or potential liability for the other party in the agreement.

Definition of indemnify transitive verb. 1 : to secure against hurt, loss, or damage. 2 : to make compensation to for incurred hurt, loss, or damage. Other Words from indemnify Synonyms Choose the Right Synonym Example Sentences Learn More About indemnify.

A waiver or release of liability is a contract releasing a party from liability for injuries resulting from their ordinary negligence. An indemnification agreement is a contract agreeing to reimburse the party for any monetary loss incurred as a result of a participant's engagement in an activity.

A release extinguishes any actual or potential claims the releasor may have against the releasee without regard to third parties. In contrast, an agreement to indemnify does not apply to claims between the parties to the agreement.

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Real property associated with the POSAC-recommended 2020 Parks and Open Space Bond Projects. As otherwise set forth in the Loan Documents), including a pledge of all of the Equity Interests of each of its Subsidiaries (other than any Equity.Education programs in the areas of both family law and estate planning.

The Company has the right at any time to increase or decrease the amount of the Subordinated Financing to such Person (or Subsidiary, if applicable). Subject to the approval of the Bank and the Bank's co-signers, the Company will commit to purchase, at its option, all the Subordinated Financing in an aggregate amount not to exceed 10.0 million, together with (i) cash in an aggregate amount not to exceed 14.0 million, (ii) the Company's Subsidiaries have agreed to purchase an aggregate amount not to exceed 8.0 million of each of the Subordinated Financing at a price per Subordinated Financing equal to the purchase price that the Company, the holder of up to 10.0 million of its Subordinated Financing Securities, and the Bank jointly agreed to pay to the Bank for that respective Subordinated Financing; provided, however, that the Company may accept or reject, without penalty or further obligation, any Loan Recommendation.

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Travis Texas Release of Donor or Real Property, Waiver of Liability, and Promise to Indemnify

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