Indemnity clause—commercial contracts
Indemnity clause—commercial contracts

The following Commercial precedent provides comprehensive and up to date legal information covering:

  • Indemnity clause—commercial contracts

[Authorised Persons

  1. means a party’s [and its Group members’] officers, directors, members, partners, and any of [its OR their] employees, consultants, agents, representatives or professional advisers;]

[Group

  1. means, in relation to a company, that company, any Subsidiary or Holding Company [from time to time OR at the date of this Agreement] of that company [and any Subsidiary [from time to time OR at the date of this Agreement] of a Holding Company of that company];]

[Holding Company

  1. means [a Holding Company as defined by s 1159 of the Companies Act 2006 (CA 2006) OR a parent undertaking as defined by CA 2006, s 1162];]

Losses

  1. means all damages, liabilities, demands, costs and expenses[ including all legal and other professional fees, costs and expenses], claims, actions and proceedings [(including all consequential, direct, indirect, special or incidental loss or punitive damages or loss, fines, penalties, interest and loss of profit or any other form of economic loss (including loss of reputation))];

[Subsidiary

  1. means [a Subsidiary as defined by CA 2006, s 1159 (but the requirement of membership in CA 2006, ss 1159(1)(b) and (c) is to be ignored) OR

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