To be indemnified
Webb17 juni 2024 · 1. The indemnity holder is entitled to recover the damages that he may be required to pay in any lawsuit relating to any matter to which the promise to indemnify applies. 2. He is entitled to recover from the indemnifier any costs that he may be obliged to pay in any such lawsuit. Webb10 aug. 2024 · The person promising or assuring the payment of compensation is called indemnifier or promisor and the person in whose favour such promise or compensation is made is called promisee or indemnity holder or indemnified. The essentials of the contract of indemnity are: There shall be two parties, indemnifier and indemnified.
To be indemnified
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WebbIndemnifier agrees to indemnify and hold harmless the Indemnitee, its respective affiliates, officers, agents, employees, and permitted successors and assigns against any and all … WebbMeaning of indemnify in English indemnify verb [ T ] uk / ɪnˈdem.nɪ.faɪ / us / ɪnˈdem.nə.faɪ / finance & economics formal or specialized to pay or promise to pay someone an amount …
WebbAn indemnity requires the indemnifier to prevent the indemnified party sustaining any loss or expense in the first place. It’s not merely to reimburse the indemnified once the latter has paid. “hold harmless” and “save harmless”: the ordinary meaning of the word "indemnify" is "to hold harmless". Webb21 juli 2024 · There are different types of indemnification clauses that can be inserted into a contract. For instance, if your contract includes a mutual indemnification clause, it …
Webb12 jan. 2024 · An indemnification clause (sometimes referred to as an indemnity clause, indemnification provision or a hold harmless clause) is a provision in a contract that establishes when and to what extent one party will assume liability for … Webbindemnify [ indemnified indemnified] {verb} volume_up general business 1. general indemnify (även: assure, ensure, safeguard, secure) volume_up trygga [ tryggade har …
Webb27 aug. 2015 · To indemnify means to compensate another party for losses or damages that have occurred, or which may occur in the future. It is a common practice for one …
Webbtr.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, or injury suffered. [Latin … lemon blueberry infused waterWebbWhether Solicitors Should Be Indemnified for a Claim to Recover Their Own Costs: RSA v Tughans. Tughans made a report to the Law Society of Northern Ireland. The firm notified a circumstance to RSA. The Public Prosecution Service brought criminal proceedings against Mr Coulter and Mr Cushnahan, lemon blueberry mini tartsWebb9 feb. 2024 · Further, even in the absence of a charter provision, a bylaw provision or an indemnification agreement providing Ds&Os with the right to indemnification, a corporation is required by statute to indemnify directors and certain senior officers for expenses actually and reasonably incurred in the defense of any action or proceeding relating to … lemon blueberry mini cheesecake recipeWebb21 juli 2024 · What Is Indemnification? When an indemnification clause is inserted into a contract, it is meant to transfer risk between the contracted parties. In most cases, these clauses are used to make sure that a potential loss will be compensated. lemon blueberry mini loaf recipeWebbDe très nombreux exemples de phrases traduites contenant "to be indemnified" – Dictionnaire français-anglais et moteur de recherche de traductions françaises. lemon blueberry mini cheesecakesWebb29 maj 2024 · The party giving the indemnity will effectively be in breach of the contract as soon as the indemnified party suffers any loss or damage. The result is that a limitation period will start running immediately from the date of the loss or damage. Anatomy of an indemnity clause. The indemnity clause consist of four key components: Who lemon blueberry mini cupcakesWebbRelated to NOTICE OF CLAIMS TO BE INDEMNIFIED. Notice of Claims, etc Promptly after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in the preceding subdivisions of this Section 5, such indemnified party will, if a claim in respect thereof is to be made against an … lemon blueberry pancakes pioneer woman