What is the purpose of an indemnification clause?

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap.

Does an indemnification protect you?

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

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Indemnification Agreement establishing Escrow Reserve

Bexar Texas Indemnification Agreement establishing Escrow Reserve

Name: Bexar Texas Indemnification Agreement establishing Escrow Reserve
Brand: US Legal Forms
Rating: 4.55 (342 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Bexar

Control #:

US-CC-17-217

Format:

Instant download

Description

17-217 17-217 . . . Indemnification Agreement providing that (i) in event of change in control, corporation shall establish Escrow Reserve of $2,000,000 as security for its obligations under Indemnification Agreement and (ii) in event of any liquidation, merger, consolidation or reorganization in which corporation is not surviving entity, or sale of all or substantially all of corporation's assets, corporation shall ensure that Indemnification Agreement is assumed by surviving entity or otherwise provide for satisfaction of its obligations thereunder

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FAQ

Indemnity benefits are monetary payments you may be entitled to receive as compensation for lost wages or damages related to your workers' compensation claim.

A release and indemnity agreement, also called an indemnity agreement or a hold harmless agreement, is a legal contract that releases a party from specific liabilities. Essentially, one party in the contract agrees to pay for all potential losses or damages caused by the other party.

An indemnification clause may allow: The indemnified party to recover certain types of losses, such as attorney's fees, which are not typically recoverable under a common law cause of action. The indemnifying party to reduce its liability by incorporating: Liability cap.

Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.

In a one-way indemnification, only one party provides this indemnity in favor of the other party. The primary benefit of an indemnification provision is to protect the indemnified party against losses from third party claims related to the contract.

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.

An indemnification escrow account is a separate fund that the parties can establish at the closing of a transaction for the payment of indemnification obligations. The indemnification escrow is funded from the buyer's purchase price.

An indemnity agreement is a contract that protects 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.?

A ?release? is a discharge of obligations. An ?indemnity? is an undertaking or a legally binding promise whereby one party agrees to accept the risk of loss or damage the other party may incur as a result of a transaction or event occurring. Indemnity is a type of security for financial loss or damage.

Indemnification obligations survive closing ? meaning the obligations remain in effect even after you close the deal and collect the purchase price. The survival period for the representations and warranties made in the purchase agreement usually ranges from six months to two years.

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In the e-mail subject line, state the document name (i.e. Registration Manual).Company and its suppliers reserve all rights not granted in these Terms. There are no implied licenses granted under these Terms. 3. Indemnification. Settlement Term Sheet with Bexar County, Dallas County, and Tarrant County.

Bexar Texas Indemnification Agreement establishing Escrow Reserve

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FAQ

What is the benefit of an indemnity?

What does it mean to release indemnity?

What is the purpose of an indemnification clause?

Does an indemnification protect you?

Who does an indemnification clause protect?

What is a release and indemnification agreement?

What is an indemnity escrow agreement?

What is an indemnity agreement?

Is a release the same as an indemnity?

How long does an indemnification provision last?

Interesting Questions

What is a Bexar Indemnification Agreement?

What is an Escrow Reserve699061?

Why is an Escrow Reserve699061 established?

Who is responsible for funding the Escrow Reserve699061?

How is the amount for the Escrow Reserve699061 determined?

When is the Escrow Reserve699061 released?

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