MUR » Topics » ARTICLE 19 - INDEMNIFICATION

This excerpt taken from the MUR 10-K filed Mar 16, 2005.

ARTICLE 19 – INDEMNIFICATION

 

19.1

  Notwithstanding anything to the contrary contained herein, CONTRACTOR agrees to indemnify, defend and save harmless COMPANY GROUP from and against any and all claims, losses and expenses (including without limitation all costs, demands, damages, suits, judgments, fines, penalties, liabilities, reasonable attorneys’ fees, and causes of action of whatsoever nature or character, whether known or unknown, and including without limitation claims, losses and expenses for property damage, bodily injury, illness, disease, death, or loss of services, wages, consortium or society) in any way, directly or indirectly, arising out of, or related to, the performance or subject matter of this CONTRACT or the ingress, egress, or presence on any premises (whether land, building, vehicle, platform, aircraft, vessel or otherwise) owned, operated, chartered, leased, used, controlled or hired by COMPANY GROUP or CONTRACTOR GROUP, and which are asserted by or arise in favor of CONTRACTOR GROUP and expressly including any claims, losses or expenses actually or allegedly caused by the sole, active, passive, concurrent or partial negligence (of whatever nature or character), fault or strict liability of COMPANY GROUP or any other person or the unseaworthiness, unairworthiness or defective condition of vessels, craft or premises, whether or not preceding or during the execution of this CONTRACT.

 

19.2

  Notwithstanding anything to the contrary contained herein, COMPANY agrees to indemnify, defend and save harmless CONTRACTOR GROUP from and against any and all claims, losses and expenses (including without limitation all costs, demands, damages, suits, judgments, fines, penalties, liabilities, reasonable attorneys’ fees, and causes of action of whatsoever nature or character, whether known or unknown, and including without limitation claims, losses and expenses for property damage, bodily injury, illness, disease, death, or loss of services, wages, consortium or society) in any way, directly or indirectly, arising out of , or related to, the performance or subject matter of this CONTRACT or the

 

39


    ingress, egress, or presence on any premises (whether land, building, vehicle, platform, aircraft, vessel or otherwise) owned, operated, chartered, leased, used, controlled or hired by COMPANY GROUP or CONTRACTOR GROUP, and which are asserted by or arise in favor of COMPANY GROUP, and expressly including any claims, losses or expenses actually or allegedly caused by the sole, active, passive, concurrent or partial negligence (of whatever nature or character), fault or strict liability of CONTRACTOR GROUP or any other person or the unseaworthiness, unairworthiness or defective condition of vessels, craft or premises, whether or not preceding or during the execution of this CONTRACT.

 

19.3 CONTRACTOR and COMPANY agree that their respective obligations as indemnitor of the other party under the voluntary and mutual indemnity agreements set forth above will be supported by liability insurance in amounts and coverages provided by each indemnitor to the other party as required by this CONTRACT. CONTRACTOR agrees to have its underwriters name COMPANY as additional assureds and waive subrogation rights against COMPANY GROUP, but only to the extent of the risks for which CONTRACTOR has agreed to assume responsibility and indemnify or release COMPANY GROUP under this CONTRACT. The limits and coverages of the said insurances shall in no way limit the liabilities or obligations assumed by the Parties under this Article 19.

 

19.4 Subject always to COMPANY’s indemnification obligations in favour of CONTRACTOR GROUP, CONTRACTOR shall be liable for and shall defend, indemnify and hold COMPANY GROUP harmless from and against any and all claims which arise out of or relate in any way to the failure of CONTRACTOR, its contractors and/or subcontractors to comply fully with all laws, regulations, rules and orders of any governmental or regulatory authority.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki