Legal Question in Business Law in New York
customary indemnification
What exactly is ''customary indemnification''? This is the context I have:
The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create or become or remain liable with respect to any Contingent Obligation except (a) Contingent Obligations in respect of customary indemnification and purchase price adjustment obligations incurred in connection with sales of assets...
Thank you!!!
Asked on 6/23/06, 12:04 pm
1 Answer from Attorneys
Nancy Delain
Delain Law Office, PLLC
Re: customary indemnification
For "customary," read "usual" or "standard."
THE INFORMATION POSTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED AS, NOR SHOULD IT BE CONSTRUED AS, LEGAL ADVICE. FOR ADVICE CONCERNING YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
Answered on 6/23/06, 2:07 pm
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