hold

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hold,

v to possess by reason of a lawful title.
hold harmless clause,
n a contract provision in which one party to the contract promises to be responsible for liability incurred by the other party. Hold harmless clauses frequently appear in the following contexts: (1) Contracts between dental benefits organizations and an individual dental professional often contain a promise by the dental professional to reimburse the dental benefits organization for any liability the organization incurs because of dental treatment provided to beneficiaries of the organization's dental benefits plan. This may include a promise to pay the dental benefits organization's attorney fees and related costs. (2) Contracts between dental benefits organizations and a group plan sponsor may include a promise by the dental benefits organization to assume responsibility for disputes between a beneficiary of the group plan and an individual dental professional when the dental professional's charge exceeds the amount the organization pays for the service on behalf of the beneficiary. If the dental professional takes action against the patient to recover the difference between the amount billed by the dental professional and the amount paid by the organization, the dental benefits organization will take over the defense of the claim and will pay any judgments and court costs.
References in periodicals archive ?
So, when the indemnitee begins to seek coverage and the hold harmless agreement does not involve any of the five automatic-type contracts, the indemnitee will be without protection.
1) No indemnification, hold harmless, or similar agreement or conveyance shall be effective to transfer from the owner or operator of any vessel or facility or from any person who may be liable for a release or threat of release under this section, to any other person the liability imposed under this section.
A manufacturer who does not have products liability insurance may offer the distributor or retailer a hold harmless agreement.
Purchaser shall indemnify and hold harmless Parent, Seller, and each of their respective affiliates, successors, and assigns, from and against all Taxes (i) with respect to all periods beginning after the Closing Date, (ii) with respect to any period beginning before the Closing Date and ending after the Closing Date, but only with respect to the portion of such period beginning the day after the Closing Date (such portion, a "Post-Closing Partial Period"), (iii) payable as a result of an election made (or deemed made) under section 338 of the Code or any comparable provision of state or local law, or (iv) payable as a result of any events occurring on the Closing Date, but after the Closing, which are outside of the ordinary course of business.
The budget bill sets the premium level for higher-income recipients in 2016 by arguing that $120 is the premium that would otherwise be paid by all beneficiaries in 2016 "if the hold harmless provision in current law did not apply.
He acknowledged signing a release that cited warnings and risks of exposure to a taser and a covenant not to sue and a hold harmless clause.
Discuss coverage for hold harmless agreements under the contractual liability exclusion
So much for risk management and hold harmless agreements.
One can only assume the good commishes haven't taken a recent look at contractual liability transfers and hold harmless agreements.
Moreover, while contractually defining the relationship may help with regulators, indemnity and hold harmless agreements are as good as the paper they are written on.