What is a standard indemnification clause?

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 - Long-Form Provision

Kings New York Indemnification - Long-Form Provision

Name: Kings New York Indemnification - Long-Form Provision
Brand: US Legal Forms
Rating: 4.62 (234 reviews)

Category:

Contracts - Clauses - Indemnification

State:

Multi-State

County:

Kings

Control #:

US-ND2307

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Instant download

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This form brings together several boilerplate contract clauses that work together to outline the procedures, restrictions, exclusivity and other aspects of an indemnity provided for under the terms of the contract agreement.

Release Agreement Between Apartment Owner ...

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An indemnification provision allocates the risk and expense in the event of a breach, default, or misconduct by one of the parties. By Jennifer Paley. An indemnification provision, also known as a hold harmless provision, is a clause used in contracts to shift potential costs from one party to the other.

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.

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.

Survival periods for breaches of representations and warranties tend to range from between six months and two years after the closing; however, the survival period for certain fundamental representations and warranties will often be longer and sometimes indefinite.

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

"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."

Tips for Enforcing Indemnification Provisions Identify Time Periods for Asserting Indemnification Rights.Provide Notice in a Timely Fashion.Notify All Concerned Parties.Understand Limitations on Recovery.Exclusive Remedy.Scope of Damages.Claims Process/Dispute Resolution.

Party A shall indemnify, defend and hold harmless Party B against any and all loss arising out of, by reason of, in connection with or as a result of third-party claims in connection with intellectual property that is the subject matter of license under this agreement.

Court will not enforce an indemnification provision that indemnifies an indemnitee for its own negligence unless the intention of the parties is clearly and unambiguously expressed. Courts first look for specific language in the contract that address the fault or negligence of the indemnitee.

Example 1: Here is an example of a simple indemnity clause in a contract: "I hereby release, acquit and discharge company and its agents and employees from any liability arising from any circumstance including the negligence of company or its employees.

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Most indemnification provisions require the indemnifying party to "indemnify and hold harmless" the indemnified party for specified liabilities. Com and click on the Road.As well as provision of information to the public in a form that is clear and intelligible. Sec. 5. Science. Contractor shall provide indemnification as set forth in the General Conditions. Cate in the form provided in the bill . Provided in a Rule and to dispense with notice to a party. Instructions and sets out the terms of the insurance We provide. King's Hawaiian and Kona Brewing Co. welcome you to Say Aloha Summer Sweepstakes. A complete list of appendices is provided in the table of contents. Tall pines kennels nebraska.

No longer used. I have the right to provide a letter of noncompliance, or objection if your claim is rejected or modified under our policy. I have received your notice that you claim has been denied. The notice is a final determination of each claim denied. Your claim and the claim of the other party have been denied through no fault of yours. You agree to settle this matter before any proceeding. My name is Michael NATO and I maintain an interest in the Property at the address listed below. I am an individual who holds an interest (1/2 %) in the Property in the name of the following entity. This entity was formed on 03/02/2015, and its name and address is as follows: The Lander Land Company, LLC, located at 3301 South Main Street, Suite 1, Lincoln, NE 69509.

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Kings New York Indemnification - Long-Form Provision

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What is an indemnification provision?

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