This form provides boilerplate contract clauses that outline the duration of any indemnity under the contract agreement, particularly for tax or environmental claims.
Clark Nevada Indemnity Provisions — Duration of the Indemnity refer to specific terms and conditions outlined in a contract or agreement, applicable in Clark County, Nevada, regarding the duration of indemnification provided by one party to another. These provisions aim to protect one party (the indemnity) from any losses, damages, or legal liabilities that may arise due to the actions or omissions of the other party (the indemnity). The duration of the indemnity is a critical aspect of the provisions as it determines the timeframe for which the indemnity will be in effect. Various types of Clark Nevada indemnity provisions exist, offering different durations to cater to the specific needs of the parties involved. Here are a few common types: 1. Fixed Duration Indemnity: This provision outlines a specific timeframe during which the indemnity will remain active. For instance, it might state that the indemnity will be in effect for five years from the date of agreement execution. 2. Continuing Indemnity: Unlike fixed duration indemnity, this provision extends the coverage indefinitely until certain conditions or events terminate it. These conditions could include the completion of a project or the fulfillment of specified obligations. 3. Limited Duration Indemnity: This provision sets a finite period during which the indemnity will be in effect, typically tied to the completion of a particular task, project, or event. Once the predetermined period expires, the indemnity ceases to apply. 4. Survival Indemnity: This provision ensures that the indemnity survives beyond the termination of the main contract. It extends the coverage for a specified period, typically outlined in years, after the expiration or termination of the contract. The duration of indemnification provisions is a crucial negotiation point as it determines the length of protection offered to the indemnity. It is essential for both parties to carefully review and understand the specific terms related to the duration of indemnity before entering into any agreement. Note: Clark County, Nevada is used as a specific example in this content, but indemnity provisions can exist and vary in different jurisdictions and legal systems. It is recommended to consult with legal professionals familiar with the applicable laws and regulations in your specific area.Clark Nevada Indemnity Provisions — Duration of the Indemnity refer to specific terms and conditions outlined in a contract or agreement, applicable in Clark County, Nevada, regarding the duration of indemnification provided by one party to another. These provisions aim to protect one party (the indemnity) from any losses, damages, or legal liabilities that may arise due to the actions or omissions of the other party (the indemnity). The duration of the indemnity is a critical aspect of the provisions as it determines the timeframe for which the indemnity will be in effect. Various types of Clark Nevada indemnity provisions exist, offering different durations to cater to the specific needs of the parties involved. Here are a few common types: 1. Fixed Duration Indemnity: This provision outlines a specific timeframe during which the indemnity will remain active. For instance, it might state that the indemnity will be in effect for five years from the date of agreement execution. 2. Continuing Indemnity: Unlike fixed duration indemnity, this provision extends the coverage indefinitely until certain conditions or events terminate it. These conditions could include the completion of a project or the fulfillment of specified obligations. 3. Limited Duration Indemnity: This provision sets a finite period during which the indemnity will be in effect, typically tied to the completion of a particular task, project, or event. Once the predetermined period expires, the indemnity ceases to apply. 4. Survival Indemnity: This provision ensures that the indemnity survives beyond the termination of the main contract. It extends the coverage for a specified period, typically outlined in years, after the expiration or termination of the contract. The duration of indemnification provisions is a crucial negotiation point as it determines the length of protection offered to the indemnity. It is essential for both parties to carefully review and understand the specific terms related to the duration of indemnity before entering into any agreement. Note: Clark County, Nevada is used as a specific example in this content, but indemnity provisions can exist and vary in different jurisdictions and legal systems. It is recommended to consult with legal professionals familiar with the applicable laws and regulations in your specific area.
