WebDefine indemnified. indemnified synonyms, indemnified pronunciation, indemnified translation, English dictionary definition of indemnified. tr.v. in·dem·ni·fied , in·dem·ni·fy·ing , in·dem·ni·fies 1. To protect against damage, loss, or injury; insure. 2. To make compensation to for damage, loss,... WebOct 3, 2013 · F. Therefore, in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee’s service (or continued service) as a director and/or officer of the Company and to enhance Indemnitee’s ability to serve the Company in an effective manner, and in order to provide such protection …

The First-Party/Third-Party Claim Distinction in Indemnification ...

WebThis is where indemnity comes in. Indemnification occurs when one party—the “indemnitor”—agrees to protec—the “indemnitee”t another partyfrom a legal — consequence of the indemnitor’s or some other party’s conduct. In its most fundamental form, indemnity shifts payment or liability for payment, in whole or in part, from one WebExamples of Indemnified Party in a sentence. The Indemnified Party may also participate in the defense at its own expense.. The Indemnifiable Losses shall be reimbursed by the … granada to madrid high-speed train time

Indemnification Clauses in Commercial Contracts - Thomson Reut…

WebNov 29, 2024 · In the majority of contracts, an indemnification clause exists to pay a party for harm or loss caused by the other party’s. The purpose is to transfer liability from one party to the other party. A civil action typically results from a factor within the indemnifying party’s control. Additionally, an indemnification clause will typically ... WebMay 5, 2024 · Indemnification is the practice of guaranteeing a third party claim against your counterparty. Imagine that you have a contract with a staffing agency to supply … WebIndemnification Clause Defined. Indemnification clauses, also known as hold harmless agreements, transfer the liability of one party’s action away from the other. They can include mutual indemnification clauses and one-sided indemnification clauses. They can also define specific terms such as: Indemnity caps. Covered events. granada tooting cinema