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Deed Of Indemnity

Deed Of Indemnity Template for Ireland

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Key Requirements PROMPT example:

Deed Of Indemnity

"I need a Deed of Indemnity under Irish law for our parent company to indemnify a newly appointed director against all liabilities arising from their role, effective from March 1, 2025, with standard carve-outs for fraud and willful misconduct."

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Document background
The Deed of Indemnity is a crucial risk management tool in Irish business transactions, commonly used in corporate restructuring, M&A deals, director appointments, and commercial contracts. It provides a legally enforceable commitment from one party to compensate another for specified losses or liabilities. This document type requires strict adherence to Irish legal formalities for deeds, including proper execution and witnessing requirements under the Land and Conveyancing Law Reform Act 2009. The deed typically specifies trigger events for the indemnity, claim procedures, payment mechanisms, and any limitations or conditions. It's particularly valuable in scenarios where parties need stronger protection than standard contractual warranties, as deeds have a longer limitation period (12 years in Ireland) and don't require consideration to be enforceable.
Suggested Sections

1. Parties: Identifies and defines the Indemnifier(s) and Indemnified Party(ies) with full legal names and addresses

2. Background: Explains the context and purpose of the indemnity, including reference to any related agreements or circumstances

3. Definitions: Defines key terms used throughout the deed, including 'Loss', 'Claims', and specific terms relevant to the indemnity

4. Indemnity: Sets out the core indemnity obligations, including scope and extent of the indemnity protection

5. Payment Terms: Specifies when and how indemnity payments must be made, including timing and method of payment

6. Claims Procedure: Details the process for making claims under the indemnity, including notice requirements and time limits

7. Duration: Specifies the term of the indemnity and any survival provisions

8. Enforcement: Contains provisions regarding enforcement of the deed, including governing law and jurisdiction

9. Execution: Formal execution blocks for signing as a deed, including witness requirements

Optional Sections

1. Multiple Indemnifiers: Required when there are multiple indemnifiers, specifying whether liability is joint and several

2. Limitations: Optional caps or restrictions on the indemnity, used when parties agree to limit liability

3. Insurance: Required when indemnifier must maintain specific insurance coverage

4. Security: Used when additional security (such as guarantees or charges) is provided to support the indemnity

5. Step-In Rights: Optional provisions allowing indemnifier to take control of claims or proceedings

6. Assignment: Required if parties wish to allow (or prohibit) transfer of rights under the deed

7. Subrogation: Optional provisions regarding indemnifier's rights of subrogation

8. Tax: Required when specific tax treatment of indemnity payments needs to be addressed

Suggested Schedules

1. Schedule 1 - Specific Indemnified Matters: Detailed list of specific matters, losses or claims covered by the indemnity

2. Schedule 2 - Claims Procedure: Detailed process for notification and handling of claims, including time limits and required information

3. Schedule 3 - Form of Notice: Template form for making claims under the indemnity

4. Schedule 4 - Security Details: Details of any security provided to support the indemnity obligations

5. Appendix A - Related Agreements: Copies or details of any related agreements referenced in the deed

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Construction

Real Estate

Insurance

Banking

Corporate Services

Manufacturing

Technology

Healthcare

Energy

Professional Services

Transportation

Relevant Teams

Legal

Finance

Risk Management

Compliance

Corporate Governance

Treasury

Commercial

Insurance

Operations

Company Secretariat

Relevant Roles

Chief Legal Officer

Legal Director

Corporate Lawyer

General Counsel

Risk Manager

Compliance Officer

Company Secretary

Chief Financial Officer

Finance Director

Commercial Director

Contract Manager

Insurance Manager

Director of Operations

Chief Executive Officer

Board Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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