Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written “Claim Notice” to the other Party (“Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (American Oil & Gas Inc), Purchase and Sale Agreement (American Oil & Gas Inc), Purchase and Sale Agreement (Treaty Energy Corp)
Claim Notice. The Party party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written claim notice (the “Claim Notice” ”) to the other Party party (“Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with reasonably available supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 ten (10) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Aspen Exploration Corp), Purchase and Sale Agreement (Venoco, Inc.)
Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) (other than a Claim that is subject to Section 14.5(c)) shall submit a written “Claim Notice” to the other Party (“Indemnifying Party”) which, to be effective, must statestating: (i) the amount of each payment claimed by an Indemnified Party to be owingthe Loss, if known, and the method of computation thereof, and (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying reference to the extent reasonably possible each separate item provisions of Loss for this Agreement in respect of which payment such right of indemnification is so claimedclaimed or arises. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Ausam Energy Corp), Purchase and Sale Agreement (Ausam Energy Corp)
Claim Notice. The Party party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written “Claim Notice” to the other Party party (the “Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days 10 Business Days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Cimarex Energy Co), Purchase and Sale Agreement (Callon Petroleum Co)
Claim Notice. The Party party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written “Claim Notice” to the other Party party (“Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Infinity Energy Resources, Inc)
Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written claim notice (the “Claim Notice” ”) to the other Party (“Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying identifying, to the extent reasonably possible possible, each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 thirty calendar days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 1 contract
Samples: Purchase and Sale Agreement (PetroHunter Energy Corp)
Claim Notice. The Party party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written “Claim Notice” to the other Party party (“Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 ten (10) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
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Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written “Claim Notice” to the other Party (“Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, to the extent such information is available, (ii) the basis for such claim, with supporting documentation, if available, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
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Claim Notice. The Party seeking indemnification under the terms of this Agreement (“"Indemnified Party”") shall submit a written “"Claim Notice” " to the other Party (“"Indemnifying Party”") which, to be effective, must state: state (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Synergy Resources Corp)
Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (“Claim Notice” ”) to the other Party (“Indemnifying Party”) which, to be effective, effective must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 1 contract
Samples: Purchase and Sale Agreement (New Frontier Energy Inc)
Claim Notice. The Party party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written “Claim Notice” to the other Party party (the “Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 ten (10) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
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Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written “Claim Notice” to the other Party (“Indemnifying Party”) which, to be effective, must statewhich shall provide: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss loss for which payment is so claimed. The Subject to Section 15.5(c), the amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Magnum Hunter Resources Corp)
Claim Notice. The Party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written “Claim Notice” to the other Party (the “Indemnifying Party”) which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, (ii) the basis for such claim, with supporting documentation, and (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the Indemnifying Party to the extent required herein within 30 10 days after the later of (x) receipt of the Claim Notice, or after Notice and (y) the date that the amount of such payment has been finally established, whichever last occurs.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Synergy Resources Corp)
Claim Notice. The Party seeking indemnification under the terms of this Agreement (“"Indemnified Party”") shall submit a written “"Claim Notice” " to the other Party (“"Indemnifying Party”") which, to be effective, must state: (i) the amount of each payment claimed by an Indemnified Party to be owing, to the extent then quantifiable, (ii) the basis for such claim, with supporting documentation, and documentation (iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed. The amount claimed shall be paid by the such Indemnifying Party to as and to, and only to, the extent required herein within 30 days after receipt of the Claim Notice, Notice or after the amount of such payment has been finally established, whichever last occurs.
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