7.3. SR 04/20/2009 - Laserfiche WebLink

Home Browse Search

The intent of this subdivision is to impose on each Borrowing Party a limited duty to defend and indemnify a Lending Party for claims arising within the Borrowing Party's jurisdiction subject to the limits of liability under Minnesota Statutes, Chapter 466. The purpose of creating this duty to defend and indemnify is to simplify the defense of claims by eliminating conflicts among defendants, and to permit liability claims against multiple defendants from a single occurrence to be defended by a single attorney. SECTION III. TERMINATION OF AGREEMENT. This Agreement may be terminated by either party by giving seven (7) days written notice to the other party. SECTION IV. GENERAL PROVISIONS 1. Entire Agreement. This Agreement supersedes any prior or contemporaneous representations or agreements, whether written or oral, between the Parties and contains the entire agreement. 2. Amendments. Any modification or amendment to this Agreement shall require a written agreement signed by both Parties. 3. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Minnesota. 4. Captions. Captions or headings contained in this Agreement are included for convenience only and form no part of the agreement between the Parties. 5. Waivers. The waiver by either party of any breach or failure to comply with any provision of this Agreement by the other party shall not be construed as, or constitute a continuing waiver of such provision or a waiver of any other breach of or failure to comply with any other provision of this Agreement. 6. Counterparts. This Agreement may be executed in counterparts, each of which shall be an original, all of which shall constitute but one and the same instrument. 7. Savings Clause. If any court finds any portion of this Agreement to be contrary to law or invalid, the remainder of the Agreement will remain in full force and effect.