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06 Business Agreement Templates.docx

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This document is a Hold Harmless (Indemnity) Agreement, which outlines the terms and conditions between two parties, referred to as the "Indemnitor" and the "Indemnitee." Here's a summary of its key points:

  • Background: The agreement is effective from a specified date and involves the Indemnitor and the Indemnitee, collectively referred to as the "Parties." It outlines the scope of individuals included within each party's responsibilities.
  • Indemnification: The Indemnitor agrees to indemnify, defend, and hold harmless the Indemnitee against liabilities, costs, expenses, damages, and losses arising from specified acts or omissions related to an activity outlined in the agreement.
  • Exclusions: The indemnity does not apply to claims arising from the negligence or wilful misconduct of the Indemnitee, nor does it apply if the Indemnitee has already been compensated under an insurance policy.
  • Limitation of Liability: The document sets limits on the Indemnitor's total liability for individual or combined claims.
  • Notices: Procedures for giving notice of claims and indemnification under the agreement are outlined.
  • Duty to Defend: Both parties have responsibilities regarding the defence of claims brought against them or by them.
  • Mutual Representations: Both parties represent that they have the authority to enter into the agreement.
  • No Variation and Waiver: Conditions for varying the agreement and waivers are established.
  • Survival: Provisions regarding the survival of the agreement's terms in the event of invalidity or unenforceability are included.
  • Entire Agreement: The agreement constitutes the entire understanding between the parties, superseding all previous discussions and agreements.
  • Assignment and Other Dealings: Restrictions on the assignment or transfer of rights and obligations under the agreement are specified.
  • Third Parties: Unless expressly provided, no one other than the parties to the agreement may enforce its terms.
  • Joint and Several Liability: The Indemnitors' obligations are jointly and severally liable.
  • Governing Law and Jurisdiction: The agreement is governed by the law of a specified state, with jurisdiction assigned to its courts.
  • Disputes: Procedures for resolving disputes arising under the agreement, including alternative dispute resolution methods, are outlined.

The document is concluded with spaces for signatures from both the Indemnitor and Indemnitee parties.

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