This Mutual Indemnification Agreement is essential for business relationships where parties seek to allocate and manage risks in their commercial dealings under German law. It is particularly valuable in joint ventures, complex service arrangements, or business partnerships where both parties face potential risks and seek reciprocal protection. The agreement details specific trigger events for indemnification, claim procedures, and liability limitations, all structured to comply with German legal requirements, including the German Civil Code (BGB), Commercial Code (HGB), and relevant insurance regulations. This document is commonly used in significant business transactions, corporate restructurings, or ongoing business relationships where clear risk allocation is crucial for both parties.
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1. 1. Parties: Identification and details of the contracting parties
2. 2. Background: Context and purpose of the mutual indemnification agreement
3. 3. Definitions: Key terms used throughout the agreement including 'Indemnified Parties', 'Losses', 'Claims', etc.
4. 4. Mutual Indemnification Obligations: Core section detailing the reciprocal indemnification commitments of each party
5. 5. Scope of Indemnification: Specific circumstances, losses, and claims covered by the indemnification
6. 6. Procedure for Claims: Process for notifying and handling indemnification claims
7. 7. Limitations of Liability: Caps, exclusions, and restrictions on indemnification obligations
8. 8. Duration: Term of the indemnification obligations and survival provisions
9. 9. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
10. 10. General Provisions: Standard contractual provisions including notices, amendments, and severability
1. Insurance Requirements: Details of required insurance coverage to support indemnification obligations - include when parties want to ensure financial backing of obligations
2. Security and Collateral: Requirements for financial security or guarantees - relevant for high-value indemnification commitments
3. Parent Company Guarantee: Additional guarantee from parent companies - include when dealing with subsidiaries or where additional financial security is needed
4. Dispute Resolution: Specific procedures for resolving disputes - important when parties prefer alternative dispute resolution to court proceedings
5. Cooperation and Information Sharing: Detailed procedures for sharing information and cooperating on claims - relevant for complex business relationships
1. Schedule 1 - Specific Indemnified Events: Detailed list of specific events or circumstances covered by the indemnification
2. Schedule 2 - Excluded Claims: List of specific exclusions from the indemnification coverage
3. Schedule 3 - Claims Procedure: Detailed procedure for processing and handling claims
4. Appendix A - Insurance Requirements: Specific insurance requirements including types, amounts, and terms
5. Appendix B - Form of Claim Notice: Template for formal notification of claims under the agreement
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