DRE » Topics » Indemnified Party

This excerpt taken from the DRE 10-Q filed Nov 9, 2005.
Indemnified Party”), and each of them, for any and all costs, expenses, claims, fines, penalties, or damages incurred by or asserted against the Indemnified Party, including but not limited to attorneys’ fees and court costs, by either Lender or any other person or entity resulting from or arising out of the payment and release of the *** Debt as aforementioned.  Notwithstanding the foregoing, Seller shall have the right, as an alternative to Buyer’s payment of the *** Debt as set forth in this Section 4.2.11 to pay and release the *** Debt at or prior to Closing.  If Seller does not elect to prepay the *** Debt, in full, prior to Closing, then the provisions of this Section 4.2.11 shall survive the Closing and shall not merge into any documentation delivered at Closing.  Seller and Buyer acknowledge and agree that the lien of the *** Debt shall constitute a Permitted Title Exception that is subject to the provisions of this Section 4.2.11.


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