CompUSA 2015 Annual Report Download - page 106
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Please find page 106 of the 2015 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.10.5 Third Party Claims .
(a)IntheeventthatanIndemniteereceivesnoticeoftheassertionofanyclaimorthecommencementofanyProceedingbyathirdpartyin
respectofwhichindemnitymaybesoughtundertheprovisionsofthisARTICLE10(a“ThirdPartyClaim”),theIndemniteeshallpromptlynotifytheIndemnitor
inwritingofsuchThirdPartyClaim(“NoticeofClaim”).FailureordelayinnotifyingtheIndemnitorwillnotrelievetheIndemnitorofanyLiabilityitmayhave
totheIndemnitee,exceptandonlytotheextentthatsuchfailureordelayactuallyandmateriallyprejudicesdefensetobeprovidedbytheIndemnitorwithrespect
tosuchThirdPartyClaim.TheNoticeofClaimshallsetforththeamount,ifknown,or,ifnotknown,anestimateoftheforeseeablemaximumamountofclaimed
Damages(whichestimateshallnotbeconclusiveofthefinalamountofsuchDamages)andadescriptionofthebasisforsuchThirdPartyClaim.
(b)SubjecttotheprovisionsofthisSection10.5,theIndemnitorwillhavetendays(orlessifthenatureoftheThirdPartyClaimrequires)
fromthedateonwhichtheIndemnitorreceivedtheNoticeofClaimtonotifytheIndemniteethattheIndemnitorwillassumethedefenseorprosecutionofsuch
ThirdPartyClaimandanylitigation resultingtherefrom atIndemnitor’s solecostandexpensewithcounselreasonablyacceptabletotheIndemnitee(a“Third
PartyDefense”).IftheIndemnitorassumestheThirdPartyDefenseinaccordancewiththeprecedingsentence,theIndemnitorshallbeconclusivelydeemedto
haveacknowledgedthattheThirdPartyClaimiswithinthescopeofitsindemnityobligationhereunderandshallholdtheIndemniteeharmlessfromandagainst
the full amount of any Damages resulting therefrom (subject to the terms and conditions of this Agreement). Any Indemnitee shall have the right to employ
separatecounselinanysuchThirdPartyDefenseandtoparticipatetherein,butthefeesandexpensesofsuchcounselshallnotbeattheexpenseoftheIndemnitor
unless(A)theIndemnitorshallhavefailed,withinthetimeafterhavingbeennotifiedbytheIndemniteeoftheexistenceoftheThirdPartyClaimasprovidedin
thefirstsentenceofthisparagraph(b),toassumethedefenseofsuchThirdPartyClaim,or(B)theemploymentofsuchcounselhasbeenspecificallyauthorizedin
writingbytheIndemnitor,whichauthorizationshallnotbeunreasonablywithheld.
(c)TheIndemnitorwillnotbeentitledto assumetheThird PartyDefenseif (i)theThirdPartyClaimseeks,inadditiontoorinlieuof
monetarydamages,anyinjunctiveorotherequitablerelief;(ii)theThirdPartyClaimrelatestoorarisesinconnectionwithanycriminalProceeding;(iii)under
applicablestandards ofprofessionalconduct,a conflict onanysignificant issueexistsbetweenthe IndemniteeandtheIndemnitor inrespectofthe ThirdParty
Claim;(iv)theIndemnitorfailedorisfailingtovigorouslyprosecuteordefendsuchThirdPartyClaim;or(v)theIndemnitorfailstoprovidereasonableassurance
totheIndemniteeofitsfinancialcapacitytoprosecutetheThirdPartyDefenseandprovideindemnificationinaccordancewiththeprovisionsofthisAgreement.
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