A provision added to legislation to ensure that recipients of federal funds do not receive less in a future year than they did in the current year if a new formula for allocating funds authorized in the legislation would result in a reduction to the recipients. This clause has been used most frequently to soften the impact of sudden reductions in federal grants.
Clause written into a contract by which one party agrees to release another party from all legal liability, such as a retailer who agrees to release the manufacturer from legal liability if the product injures someone.
A hold-harmless clause (also known as an indemnification clause) attempts to shift liability from one party to another (e.g., from an HMO to an employed physician). Courts may modify or refuse to uphold such agreements if they are deemed harmful to the public or the parties are perceived to have unequal bargaining power.
A contractual provision which transfers risk from one party such as a property owner to another party such as a tenant.
A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising aout 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 lessee's negligence on the leased premises.
A statement that releases Brown University from any liability in connection with releasing and/or providing information on an employee or former employee.
One party agrees to indemnify the other for any loss suffered because of the contract or lease.