Common use of Claims for Indemnity; Third Party Claims Clause in Contracts

Claims for Indemnity; Third Party Claims. (a) Whenever a claim for Losses shall arise for which one party (“Indemnitee”) shall be entitled to indemnification under this Article 7, Indemnitee shall notify the indemnifying party (“Indemnitor”) in writing promptly after the first receipt of notice of such claim, and in any event within such period as may be necessary for Indemnitor to take appropriate action to resist such claim. Such notice shall specify all facts known to Indemnitee giving rise to such indemnification rights. The right of Indemnitee for indemnification, as set forth in the notice, shall be deemed agreed to by Indemnitor unless, within 30 days after receipt of such notice, Indemnitor shall notify Indemnitee in writing that it disputes the right of Indemnitee to indemnification. If Indemnitee shall be duly notified of such dispute, the Parties shall attempt to settle and compromise the same first by referring such matters to an executive officer of each party prior to commencing any Litigation to interpret the terms of this Agreement.

Appears in 5 contracts

Samples: Asset Purchase Agreement (LOCAL.COM), Asset Purchase Agreement (LOCAL.COM), Asset Purchase Agreement (LOCAL.COM)

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Claims for Indemnity; Third Party Claims. (a) 9.3.1. Whenever a claim for Losses shall arise for which one party ("Indemnitee") shall be entitled to indemnification under this Article 79, Indemnitee shall notify the indemnifying party ("Indemnitor") in writing promptly after the first receipt of notice of such claim, and in any event within such period as may be necessary for Indemnitor to take appropriate action to resist such claim. Such notice shall specify all facts known to Indemnitee giving rise to such indemnification rights. The right of Indemnitee for indemnification, as set forth in the notice, shall be deemed agreed to by Indemnitor unless, within 30 days after receipt of such notice, Indemnitor shall notify Indemnitee in writing that it disputes the right of Indemnitee to indemnification. If Indemnitee shall be duly notified of such dispute, the Parties parties shall attempt to settle and compromise the same first by referring such matters to an executive officer of each party prior to commencing any Litigation to interpret the terms of this Agreement.

Appears in 2 contracts

Samples: Asset Purchase Agreement (LSB Industries Inc), Asset Purchase Agreement (Nucentrix Broadband Networks Inc)

Claims for Indemnity; Third Party Claims. (a) Whenever a claim for Losses shall arise for which one party Party (“Indemnitee”) shall be entitled to indemnification under this Article 7VIII, Indemnitee shall notify give the indemnifying party (“Indemnitor”) in writing Notice promptly after the first receipt of notice knowledge of such claim, and in any event within such period as may be necessary for Indemnitor to take appropriate action to resist such claim. Such notice Notice shall specify all facts known to Indemnitee giving rise to such indemnification rights. The right of Indemnitee for indemnification, as set forth in the noticeNotice, shall be deemed agreed to by Indemnitor unless, within 30 days after receipt of such noticeNotice, Indemnitor shall notify Indemnitee in writing that it disputes the right of Indemnitee to indemnification. If Indemnitee shall be duly notified of such dispute, the Parties shall attempt to settle and compromise the same first by referring such matters to an executive officer of each party prior to commencing any Litigation to interpret the terms of this Agreement.

Appears in 1 contract

Samples: Assignment of Rights Agreement (Royal Gold Inc)

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Claims for Indemnity; Third Party Claims. (a) 9.3.1 Whenever a claim for Losses shall arise for which one party ("Indemnitee") shall be entitled to indemnification under this Article 79, Indemnitee shall notify the indemnifying party ("Indemnitor") in writing promptly after the first receipt of notice of such claim, and in any event within such period as may be necessary for Indemnitor to take appropriate action to resist such claim. Such notice shall specify all facts known to Indemnitee giving rise to such indemnification rights. The right of Indemnitee for indemnification, as set forth in the notice, shall be deemed agreed to by Indemnitor unless, within 30 days after receipt of such notice, Indemnitor shall notify Indemnitee in writing that it disputes the right of Indemnitee to indemnification. If Indemnitee shall be duly notified of such dispute, the Parties parties shall attempt to settle and compromise the same first by referring such matters to an executive officer of each party prior to commencing any Litigation to interpret the terms of this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (LSB Industries Inc)

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