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INDEMNITY AND RELEASE AGREEMENT - page 3 / 5

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to consult with counsel of their respective choosing; that they have fully read and understood the terms of this Agreement and that they have entered into this Agreement freely and voluntarily without relying upon any statement of fact or opinion by any other person, and without duress or coercion of any kind;

2.4 That the terms and conditions of this Agreement and the events and

negotiations

preceding

execution

of

the

Agreement

are

private

and

confidential, and that neither party hereto may reveal said events, negotiations, terms and conditions to any third party without the express

consent of both parties or a valid directive or order from a government agency

or

court

of

competent

jurisdiction.

It

shall

be

a

material

breach

of

this

Agreement to reveal any such events, negotiations, terms or conditions;

2.5 That if any suit, action, or other proceeding, or appeal from a decision therein, is instituted to establish, obtain, or enforce any right resulting from this Agreement, the prevailing party shall be entitled to recover from the adverse party, in addition to costs and disbursements, such additional sums as an arbitrator or court of competent jurisdiction may adjudge reasonable as attorneys’ fees; and

2.6That it presently owns each and all of the claims and the causes of action h e r e b y r e l e a s e d a n d t h a t i t h a s n o t h e r e t o f o r e a s s i g n e d , h y p o t h e c a t e d , o r in any manner assign, hypothecate, or assign, hypothecate, or transfer to any any debt, claim, demand or cause of transferred, and it will not hereafter transfer, or attempt to or purport to corporation, person or other entity,

action, of any kind or nature whatsoever, which is in any manner connected with, based upon or related to, or which arises out of, any of the claims or possible claims described herein.

3. INDEMNITY.

BETZ shall and hereby does indemnify, defend and hold harmless NHCLC, its subsidiaries and/or parent companies, affiliates, successors, assigns, its officers, directors, employees, or shareholders and the Network from and against any and all losses, claims, demands, actions, losses or liabilities expenses, court costs, and

reasonable fees of attorneys and other professionals,

arising

out

of

any

misrepresentation or breach of the above warranties or a breach of this Agreement or in connection with any willful or negligent act or omission of BETZ or his employees or agents, including but not limited to such act or omission that contributes to any economic, bodily injury, sickness, disease or death. This indemnity will survive the termination of this Agreement. Under no circumstances shall NHCLC be liable for any act, omission, contract, debt, or other obligation of BETZ. This indemnification shall specifically include any claims of third parties against NHCLC, its subsidiaries and/or parent companies, affiliates, franchisees, successors, assigns, its ofices, directors, employees, or shareholders and the Network.

  • 4.

    MUTUAL RELEASE

    • -

      3-

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