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cross-indemnity agreement

A form of indemnity that is often used in energy industry and chemical industry contracts. Under cross-indemnity agreements, the indemnification obligation is reciprocal in nature, regardless of fault. Therefore, each party obligates itself to indemnify the other for liabilities arising out of each other's acts or omissions. See also Knock-for-knock indemnity; Indemnification; Indemnity; Indemnity contract.

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