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Sample Environmental Indemnity Agreement - Detailed

Bexar Texas Sample Environmental Indemnity Agreement - Detailed

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

Category:

Contracts - Indemnification

State:

Multi-State

County:

Bexar

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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How to fill out Bexar Texas Sample Environmental Indemnity Agreement - Detailed?

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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

Indemnity clauses can include 'hold harmless' wording under which one party agrees that the other will not be liable for any losses that the first party suffers arising from the specified events. It is always advisable that you seek independent legal advice on all contracts from a contract solicitor.

"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."

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

Letters of indemnity should include the names and addresses of both parties involved, plus the name and affiliation of the third party. Detailed descriptions of the items and intentions are also required, as are the signatures of the parties and the date of the contract's execution.

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.

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.

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.

An indemnity form also limits the person's contractual and delictual liability. This means that a person indemnifies another person from liability by giving up his/her right to sue that person when s/he suffers damages, loses something or gets injured.

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Contractor will have 270 calendar days to complete all work. Please fill out the order form available here.Environmental Indemnification. Changes made in the contract shall not affect its continuity from year to year. General oversight of the Contractor's activities in completing the Scope of Work. Applicable law or the governing body's charter.

Bexar Texas Sample Environmental Indemnity Agreement - Detailed

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