The Indemnified Event is the trigger required to claim under an indemnity. - For example, an Indemnified Event may be a situation where a third-party institutes (or even only threatens), for example, an IP infringement claim against the Indemnified Party due to their use of Software supplied by the Indemnifying Party. - If you are the Indemnified Party, you want the Indemnified Event to be comprehensive and to occur as soon as the possibility of a claim arises.