San Bernardino California Sample Environmental Indemnity Agreement

Name: San Bernardino California Sample Environmental Indemnity Agreement
Brand: US Legal Forms
Rating: 4.61 (341 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

County:

San Bernardino

Control #:

US-0818-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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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.

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.

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.

"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."

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.

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.

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.

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

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An example of such an agreement is included in the Appendix as Exhibit A. Riverside County does not currently require a signed Defense and Indemnification. It includes the same natural hazards and property tax liability disclosures as above.NOTE: Does NOT include the environmental screening disclosures. The City currently contracts for these services with Clinical Laboratory of San Bernardino. Pursuant to the agreement, the Town shall remit to the Association the District assessment revenues. Payment for a Veteran in a service center will not exceed 8 hours in any day. The City may not award the contract until registration of all subcontractors and suppliers is complete. D. Sample Entertainment Agreement for musicians. San Luis Rey settlement agreement implementation. Sec. 3606. Tule River Indian Tribe.

San Bernardino California Sample Environmental Indemnity Agreement

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