Common use of Actions Against Company Shareholders Clause in Contracts

Actions Against Company Shareholders. In the event that Parent ------------------------------------ has elected to pursue indemnity directly from the Principal Shareholders, the Principal Shareholders shall promptly, and in no event later than 30 days after delivery of the Officer's Certificate, wire transfer to Parent the amount of such Loss, unless the Company or the Principal Shareholders, as the case may be, contest such claim by following the procedures set forth in Section 7.2(i).

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Usweb Corp), Agreement and Plan of Reorganization (Usweb Corp)

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Actions Against Company Shareholders. In the event that Parent ------------------------------------ has elected to pursue indemnity directly from the Principal Company and the Company Shareholders, the Principal Company -42- 48 Shareholders shall promptly, and in no event later than 30 days after delivery of the Officer's Certificate, wire transfer to Parent the amount of such Loss, unless the Company or the Principal Company Shareholders, as the case may be, contest such claim by following the procedures set forth in Section 7.2(i8.2(e).

Appears in 1 contract

Samples: Asset Purchase Agreement (CKS Group Inc)

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Actions Against Company Shareholders. In the event that Parent ------------------------------------ has elected to pursue indemnity directly from the Principal ShareholdersShareholder, the Principal Shareholders Shareholder shall promptly, and in no event later than 30 days after delivery of the Officer's Certificate, wire transfer to Parent the amount of such Loss, unless the Company or the Principal ShareholdersShareholder, as the case may be, contest such claim by following the procedures set forth in Section 7.2(i).

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Usweb Corp)

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