indemnification

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Related to indemnified: indemnification, indemnity

indemnification

A contractual obligation by which one person or organization agrees to secure another against loss or damage from specified liabilities.
References in periodicals archive ?
The payment of an indemnified liability is offset by an indemnification payment from the seller.
Describe the types of losses and damages covered (what the association will be indemnified for).
This indemnity shall be effective regardless of whether the claim or loss is caused in some part by a party to be indemnified.
Additionally, customers are indemnified from IPR infringement suites, as the product is developed entirely in-house, a great advantage over opting open sources," he added.
Innophos believes the Company is indemnified against these claims under the terms of the sale agreement with Rhodia S.
Donnelley Corporation (NYSE: RHD) tax matters, as disclosed in the legal proceedings footnote within our 2003 Form 10-K filing, while RHD is technically the taxpayer in certain IRS proceedings regarding historical Dun & Bradstreet tax practices, RHD is contractually indemnified for 100% of any tax liability the IRS may assess.
In addition, B&W will be indemnified by RJRT for historical and prospective litigation relating to its U.
As a result, investors will be indemnified against any change in the amortization profile of the MTNs," he said.
Dynatec Corporation may deliver to Highwood a claim to be indemnified in respect of the $1 million dollars provided under the Standby Letter of Credit pursuant to the indemnity and security agreement entered into between Highwood and Dynatec Corporation, which requires Highwood to pay the amount claimed within 60 days.
DuPont, Conoco's parent company at the time of the project financing, and PDVSA had equally shared the guarantees, with DuPont's portion subsequently indemnified by Conoco.