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Sample Environmental Indemnity Agreement - Detailed

Tarrant Texas Sample Environmental Indemnity Agreement - Detailed

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

Category:

Contracts - Indemnification

State:

Multi-State

County:

Tarrant

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 Tarrant Texas Sample Environmental Indemnity Agreement - Detailed?

Drafting paperwork for the business or individual demands is always a big responsibility. When drawing up a contract, a public service request, or a power of attorney, it's important to take into account all federal and state laws of the particular area. However, small counties and even cities also have legislative procedures that you need to consider. All these aspects make it burdensome and time-consuming to generate Tarrant Sample Environmental Indemnity Agreement - Detailed without professional assistance.

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An environmental indemnity mitigates a lender's exposure for environmental risks that are associated with real property ownership by indemnifying the lender against all losses associated with environmental compliance, monitoring, and remediations (see Drafting Note, Losses).

"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."

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.

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.

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.

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.

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

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.

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.

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Documents are intended to be complementary and to be read together as a complete agreement. 1.2. 1 Subject to Section 1.2.Prohibition on Contracts with Companies Boycotting Israel. 40. Exhibit A- Contract Example. 41. Use, but if you don't have an account please complete the New User Access Form on the Services for Schools page of the Portal and we will set you up with an. 'Without a doubt one of the leading insolvency law teams in the South West.

Tarrant Texas Sample Environmental Indemnity Agreement - Detailed

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