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O-1993-1919
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O-1993-1919
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Last modified
11/2/2016 3:38:53 PM
Creation date
10/25/2006 1:18:12 PM
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Legislative Records
Legislative Type
Ordinance
Date
7/26/1993
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<br />e <br /> <br />, <br />'. <br /> <br />e <br /> <br />Indemnitor shall promptly advise Indemnitees in writin9 of any <br />action, adJninistrative or legal proceeding or investigat~on as to <br />which this indemnification may apply, and Indemni tor, at <br />Indemnitor's expense, shall assume on behalf of Indemnitees (and the <br />other Indemnitees) and conduct with due diligence and in good faith <br />the defense thereof with counsel satisfactory to Indemniteesi <br />provided, however, that Indemnitees shall have the right, at its <br />option, to be represented therein by advisory counsel of its own <br />selection and at its own expense. . In the event of failure by the <br />Indemnitor to fully perform in accordance with this Indemnification <br />Agreement, Indemn1tees, at its option, and without relieving <br />Indemnitor of its obligations hereunder, may so perform, but all <br />costs and expenses so incurred by Indemnitees in that event shall be <br />reimbursed by Indemnitor to Indemnitees, together with interest in <br />the same from the date any such expense was paid by Indemnitees <br />until reimbursed by. Indemnitor, at the highest lawful rate of <br />interest allowed under applicable usury laws of the State of Texas <br />(or if no maximum rate is applicable, at the rate of ei9hteen <br />percent (18%) per annum). This indemnification shall not be l~mited <br />to damages, compensation or benefits payable under insurance <br />policies, worker's compensation acts, disability benefit acts or <br />other employees I benefit acts. It is agreed w1th respect to any <br />legal limitations now or hereafter in effect and affecting the <br />validity or enforceability of the indemnification obligation under <br />this Section 1.0, such legal limitations are made a part of the <br />indemnification obligation and shall operate .to amend the <br />indemnification obligation to the minimum extent necessary to bring <br />the provision into conformity with the requirements of such <br />limitations, and as so modified, the indemnification obligation <br />shall continue in full force and effect. <br /> <br />~ INDEMNITOR'S INSURANCE. Indemnitor shall, at its sole cost and <br />expense, maintain in effect at all times insurance coverages with <br />limi ts not less than those set forth below in the Schedule of <br />Insurance Coverages with insurance companies licensed to do business <br />in the State of Texas (with a Best's rating of no less than A) and <br />acceptable to Indemnitees and under forms of policies satisfactory <br />to Indemnitees. All such policies shall be written on an occurrence <br />(not claims made) basis. <br /> <br />Coverage <br /> <br />Schedule of Insurance Coveraqes <br />Minimum Amounts and Limits <br /> <br />~ Worker'S Compensation <br /> <br />Worker's compensation <br />Employer'S "Liability <br /> <br />Statutory Limits <br />$500,000 . <br /> <br />The policy shall include a Waiver of Subrogation in favor of the <br />Indemnitees (as defined in section 1.0 of this Agreement). <br /> <br />\ <br />
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