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200610793
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Last modified
3/4/2012 11:26:49 AM
Creation date
12/5/2006 4:27:49 PM
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DEEDS
Inst Number
200610793
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200610'793 <br />(b) Indemnification Provisions for Benefit of MIDLAND. <br />In the event either of the STOCKHOLDERS breaches any of their <br />representations, warranties, and covenants contained herein, and, <br />if there is an applicable survival period pursuant to Section 4(a) <br />above, provided that MIDLAND make a written claim for <br />indemnification against either of the STOCKHOLDERS within the <br />applicable survival period, then each of the STOCKHOLDERS agrees <br />to indemnify B & R from and against the entirety of any losses, <br />damages, expenses or fees, including reasonable attorneys, fees <br />(the "Losses ") B & R may suffer through and after the date of the <br />claim for indemnification resulting from, arising out of, relating <br />to, in the nature of, or caused by the breach (or the alleged <br />breach) . <br />(c) Indemnification Provisions for Benefit of the <br />Seller. In the event MIDLAND breaches any of its representations, <br />warranties, and covenants contained herein, and, if there is an <br />applicable survival period pursuant to Section 4(a) above, <br />provided that the STOCKHOLDERS make a written claim for <br />indemnification against MIDLAND within such survival period, then <br />MIDLAND agrees to indemnify the STOCKHOLDERS from and against the <br />entirety of any losses the STOCKHOLDERS may suffer through and <br />after the date of the claim for indemnification resulting from, <br />arising out of, relating to, in the nature of, or caused by the <br />breach (or the alleged breach). <br />(d) Matters Involving Third Parties. <br />(i) If any third party shall notify any Party <br />(the "Indemnified Party ") with respect to any matter (a "Third <br />Party Claim ") which may give rise to a claim for indemnification <br />against any other Party (the "Indemnifying Party ") under this <br />Section 4, then the Indemnified Party shall promptly (and in any <br />event within five business days after receiving notice of the <br />Third Party Claim) notify the Indemnifying Party thereof in <br />writing. <br />(ii) Any Indemnifying Party shall have the right <br />to defend the Indemnified Party against the Third Party Claim with <br />counsel of its choice reasonably satisfactory to the Indemnified <br />Party; provided, however, that the Indemnifying Party shall not <br />consent to the entry of any judgment or enter into any settlement <br />with respect to the Third Party Claim without the prior written <br />consent of the Indemnified Party (not to be withheld unreasonably) <br />unless the judgment or proposed settlement involves only the <br />payment of money damages and does not impose an injunction or <br />other equitable relief upon the Indemnified Party. <br />(iii) Unless and until an Indemnifying Party <br />assumes the defense of the Third Party Claim as provided in <br />ZC <br />
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