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.
Travis Texas Indemnification — Long-Form Provision is a legal provision that safeguards parties involved in a contract against potential losses, damages, expenses, liabilities, or claims arising from their actions or omissions. This provision is commonly included in various types of agreements, such as commercial contracts, lease agreements, partnership agreements, or mergers and acquisitions. In its most basic form, the Travis Texas Indemnification — Long-Form Provision involves one party (the indemnity) accepting responsibility for indemnifying and protecting another party (the indemnity) from any losses incurred due to specified events or circumstances. These events or circumstances may include breach of contract, intellectual property infringement, negligence, third-party claims, or violations of laws or regulations. There are different types of Travis Texas Indemnification — Long-Form Provisions, each tailored to specific contractual needs and individual parties' preferences. Here are a few variations commonly encountered: 1. Broad Form Indemnity: This type provides extensive coverage to the indemnity, obligating the indemnity to indemnify them for all losses, damages, liabilities, and expenses arising from any cause, excluding those caused intentionally by the indemnity. 2. Intermediate Form Indemnity: This provision strikes a balance between broad and limited coverage. It typically covers losses caused by the indemnity's negligence or breaches of representations and warranties but excludes losses arising from the indemnity's intentional conduct. 3. Limited Form Indemnity: This type limits the indemnity's liability to specific identified risks or circumstances, typically stated explicitly in the provision. The indemnification obligations are confined to losses directly resulting from those specified events. 4. Reciprocal Indemnity: In some cases, both parties may agree to indemnify each other. This reciprocal arrangement ensures that both parties are protected from any potential liabilities or losses resulting from their respective actions. When drafting a Travis Texas Indemnification — Long-Form Provision, it is vital to consider various factors, such as the nature of the agreement, the parties' bargaining power, the degree of risk involved, and relevant laws and regulations. Consulting with legal professionals experienced in contract law is crucial to ensure the provision aligns with the specific needs and protects the parties adequately.Travis Texas Indemnification — Long-Form Provision is a legal provision that safeguards parties involved in a contract against potential losses, damages, expenses, liabilities, or claims arising from their actions or omissions. This provision is commonly included in various types of agreements, such as commercial contracts, lease agreements, partnership agreements, or mergers and acquisitions. In its most basic form, the Travis Texas Indemnification — Long-Form Provision involves one party (the indemnity) accepting responsibility for indemnifying and protecting another party (the indemnity) from any losses incurred due to specified events or circumstances. These events or circumstances may include breach of contract, intellectual property infringement, negligence, third-party claims, or violations of laws or regulations. There are different types of Travis Texas Indemnification — Long-Form Provisions, each tailored to specific contractual needs and individual parties' preferences. Here are a few variations commonly encountered: 1. Broad Form Indemnity: This type provides extensive coverage to the indemnity, obligating the indemnity to indemnify them for all losses, damages, liabilities, and expenses arising from any cause, excluding those caused intentionally by the indemnity. 2. Intermediate Form Indemnity: This provision strikes a balance between broad and limited coverage. It typically covers losses caused by the indemnity's negligence or breaches of representations and warranties but excludes losses arising from the indemnity's intentional conduct. 3. Limited Form Indemnity: This type limits the indemnity's liability to specific identified risks or circumstances, typically stated explicitly in the provision. The indemnification obligations are confined to losses directly resulting from those specified events. 4. Reciprocal Indemnity: In some cases, both parties may agree to indemnify each other. This reciprocal arrangement ensures that both parties are protected from any potential liabilities or losses resulting from their respective actions. When drafting a Travis Texas Indemnification — Long-Form Provision, it is vital to consider various factors, such as the nature of the agreement, the parties' bargaining power, the degree of risk involved, and relevant laws and regulations. Consulting with legal professionals experienced in contract law is crucial to ensure the provision aligns with the specific needs and protects the parties adequately.
