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Sample Environmental Indemnity Agreement - Detailed

Alameda California Sample Environmental Indemnity Agreement - Detailed

Name: Alameda California Sample Environmental Indemnity Agreement - Detailed
Brand: US Legal Forms
Rating: 4.6 (469 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

County:

Alameda

Control #:

US-0745-WG

Format:

Instant download

Description

This is a sample form in which the Indemnitor hereby unconditionally and irrevocably indemnifies and agrees to reimburse, defend, exonerate, pay and hold harmless Lender and its directors, officers, policyholders, shareholders, employees, successors, assigns, agents, contractors, subcontractors, experts, licensees, affiliates, lessees, mortgagees, trustees and invitees, from and against any and all Environmental Damages arising from the presence of Hazardous Materials in, upon, about or beneath the Secured Property or migrating to or from the Secured Property, or arising in any manner whatsoever out of the violation of any Environmental Requirements pertaining to the Secured Property and the activities thereon, or the breach of any warranty or covenant or the inaccuracy of any representation of Indemnitor contained in the Loan Documents pertaining to Hazardous Materials or other environmental matters.

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Company/Business/Individual Name shall fully indemnify, hold harmless and defend and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not

Indemnity Clause Defined Indemnity clauses, also known as indemnification clauses, require one party to reimburse the other for recoverable damages from third-party claims. The indemnifying party is demanding payment. The indemnified party is required to pay.

Key Takeaways. Indemnity is a comprehensive form of insurance compensation for damages or loss. In this type of arrangement, one party agrees to pay for potential losses or damages caused by another party.

An example of an indemnity would be an insurance contract, where the insurer agrees to compensate for any damages that the entity protected by the insurer experiences.

The most important tip for drafting an effective indemnity is to ensure that the clause is worded to suit the particular circumstances of the contracting parties. If there is a dispute about the operation of a contractual indemnity, the balance of the contract will help to identify how the indemnity operates.

India Code: Section Details. A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a contract of indemnity.

"Each party agrees to indemnify, defend, and hold harmless the other party from and against any loss, cost, or damage of any kind (including reasonable outside attorneys' fees) to the extent arising out of its breach of this Agreement, and/or its negligence or willful misconduct."

Obligation to indemnify The obligation to indemnify requires the indemnifying party to: Reimburse the indemnified party for its paid costs and expenses, referred to as losses. Advance payment to the indemnified party for its unpaid costs and expenses, such as: Liabilities. Claims. Causes of action.

An environmental indemnity agreement is a legal agreement between a borrower and a lender that provides security or protection from losses or damage caused by environmental contamination or disaster.

Why do I need an indemnity clause? Indemnity clauses are used to manage the risks associated with a contract, because they enable one party to be protected against the liability arising from the actions of another party.

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In a 1970 agreement, an indemnification as to compliance with all laws and against all losses and damages is sufficient to allocate. Appendix F - Acknowledgment of Insurance.Appendix G - Contract Template. Project Overview. The City of Newark is seeking to establish agreements with consultants for on-call environmental. Template. Contract. Fields. Contract Number. 28831. Shall have the meaning given to such terms in the Agreement. 22 results — The City of Alameda offers various full-time schedules including 36, 37.5. TIME PERIODS CONTAINED IN THE BIDDING AND CONTRACT DOCUMENTS.

Alameda California Sample Environmental Indemnity Agreement - Detailed

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What is an Environmental Indemnity Agreement?

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