This litigation agreement template has 5 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our litigation agreement template:
LITIGATION AGREEMENT This Litigation Agreement ("Agreement") is effective as of [DATE], BETWEEN: [FIRST PARTY NAME] (the "First Party"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTY NAME] (the "Second Party"), an individual with its main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Parties have entered into a Litigation Agreement with each other to [SPECIFY PURPOSE] on [EFFECTIVE DATE]; WHEREAS, this Agreement shall define the rights and duties of each Party in connection with the ongoing Litigation; WHEREAS, the Parties wish to evidence their contract in writing; WHEREAS, the Parties are duly authorized and have the capacity to enter into and perform this Contract; WHEREAS, the Parties affirm to understand all the provisions contained in this Agreement, and in case either Party requires clarification as to one or more of the provisions contained herein, either Party has requested clarification or otherwise sought guidance. NOW THEREFORE in consideration and as a condition of both Parties entering into this Agreement and other valuable considerations, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows: INDEMNIFICATION The First Party agrees that, to the maximum extent permitted by applicable law (but subject to the limitations set forth herein), it shall indemnify, defend and hold harmless the other Party, its affiliates, and each of their respective directors, officers, partners, shareholders, members, employees, agents (including counsel, auditors, accountants, and advisors), heirs, successors, predecessors, and assigns (collectively, "Indemnified Parties") from, against and in respect of and shall reimburse the amount of any loss, liability, damage, judgment, civil fine and penalty, expense, including reasonable costs of investigation and defence and reasonable attorneys' fees and expenses, including such fees and expenses at trial and on any appeal (collectively, "Losses"), suffered or incurred by, and any Proceeding against, any of the Indemnified Parties arising out of or resulting from (i) the Litigation or (ii) any breach of any representation, warranty or covenant by the First Party contained in this Agreement. PAYMENT Both Parties intend to be responsible for one-half of the costs and attorney fees incurred in Litigation and to be responsible for one-half of any Loss suffered or incurred by either Party or any of their affiliates in connection with the Litigation. To effectuate this intention, the First Party agrees that, to the maximum extent permitted by applicable law (but subject to the limitations set forth herein), it shall indemnify, defend and hold harmless each of the Indemnified Parties from, against and in respect of and shall reimburse the amount of any Loss suffered or incurred by, and any Proceeding against, any of the Indemnified Parties arising out of or resulting from the Litigation. The First Party shall have no liability or responsibility in respect of any non-monetary Losses suffered or incurred by any Indemnified Party, including injunctive relief. The Second Party agrees that, to the maximum extent permitted by applicable law (but subject to the limitations set forth herein), it shall indemnify, defend and hold harmless, jointly and severally, each of the First Party Indemnified Parties from, against and in respect of, and shall reimburse the amount of any Loss suffered or incurred by, and any Proceeding against, any of the First Party Indemnified Parties arising out of or resulting from the Litigation. REPRESENTATION OF THE PARTIES This Agreement in all respects has been voluntarily and knowingly executed by such Party and is the legal, valid and binding obligation of such Party. Such Party has the full power and authority to enter into this Agreement and perform its obligations hereunder. The execution, delivery and performance of this Agreement by such Party are not prohibited by and do not violate or conflict with or require any consent or approval with respect to (i) such Party's organizational documents, (ii) any order, writ, injunction, decree or judgment of any Governmental Body, (iii) any material contract or agreement to which such Party is a party or by which it is bound, or (iv) any law, rule or regulation applicable to such Party. Such Party has had an opportunity to seek and has sought independent legal advice from attorneys of its choice and other advice from such accountants and other professionals as it deems appropriate, in each case with respect to the advisability of executing this Agreement, and such Party has carefully read this Agreement and has made such investigation of the facts pertaining to this Agreement as it deems necessary. CONTROL OF LITIGATION The First Party shall have the exclusive right to manage, direct, and control the Litigation. The Second Party shall not have the authority without the express prior written consent of the First Party Indemnified Parties, not to unreasonably withhold or delay, to file any pleading, make any admission, accept any finding of fact or enter into any settlement regarding the Litigation which provides that the conduct or behavior of the First Party Indemnified Parties constitutes gross negligence, willful misconduct, intentional failure to perform a duty or reckless disregard of the consequences of such conduct or behavior.
