Hold-Harmless Clause: A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction. Such clauses are usually found in leases in which the lessee agrees to indemnify, defend and hold harmless the lessor from claims and suits of third persons for damage resulting from the lessees negligence on the leased premises.

 

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Hold-Harmless Clause: A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction. Such clauses are usually found . . . View Full Definition

Market Out Clause: A clause that may appear in an underwriting firm commitment that releases it from its purchase requirement if there are negative securities market developments.

Multicurrency Clause: An agreement in the case of a Euro loan that permits the borrower to switch from one currency to another currency on a rollover date.

Multiple-Listing Clause: A provision in an exclusive listing for the authority and obligation on the part of the listing broker to distribute the listing to other brokers in the multiple-listing organization.