Common use of Claims for Indemnity Clause in Contracts

Claims for Indemnity. (a) A claim for indemnity under Sections 4.1 or 4.2 of this Agreement may be made by the claiming party at any time prior to (i) 120 months after the Effective Time in case of a claim under Section 4.1(a)(ii), and (ii) 24 months after the Effective Time for all other items, by the giving of written notice thereof to the other party. Such written notice shall set forth in reasonable detail the basis upon which such claim for indemnity is made. In the event that any such claim is made within the prescribed period, the indemnity relating to such claim shall survive until such claim is resolved. Claims not made within such period shall cease and no indemnity shall be made therefor.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First United Corp/Md/)

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Claims for Indemnity. (a) A Except as otherwise provided in this Article IV, a claim for indemnity under Sections 4.1 or 4.2 of this Agreement may be made by the claiming party at any time prior to (i) 120 months two years after the Effective Time in the case of a claim under breach of representations and warranties contained in Section 4.1(a)(ii5.12 (Environmental Laws), and (ii) 24 as to all other claims, eighteen months after the Effective Time for all other itemsTime, in each case, by the giving of written notice thereof to the other party. Such written notice shall set forth in reasonable detail the basis upon which such claim for indemnity is made. In the event that any such claim is made within the prescribed period, the indemnity relating to such claim shall survive until such claim is resolved. Claims not made within such period shall cease and no indemnity shall be made therefor.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Union Bankshares Inc)

Claims for Indemnity. (a) A claim for indemnity under Sections 4.1 or 4.2 of this Agreement may be made by the claiming party at any time prior to (i) 120 months after the Effective Time in case of a claim under Section 4.1(a)(ii), ) and (ii) 24 months after the Effective Time for all other items, items by the giving of written notice thereof to the other party. Such written notice shall set forth in reasonable detail the basis upon which such claim for indemnity is made. In the event that any such claim is made within the prescribed period, the indemnity relating to such claim shall survive until such claim is resolved. Claims not made within such period shall cease and no indemnity shall be made therefor.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Huntington Bancshares Inc/Md)

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Claims for Indemnity. (a) A claim for indemnity under Sections 4.1 or 4.2 of this Agreement may be made by the claiming party at any time prior to (i) 120 months after the Effective Time in case of a claim under Section 4.1(a)(ii), and (ii) 24 months after the Effective Time for all other items, by the giving of written notice thereof to the other party. Such written notice shall set forth in reasonable detail the basis upon which such claim for indemnity is made. In the event that any such claim is made within within, the prescribed period, the indemnity relating to such claim shall survive until such claim is resolved. Claims not made within such period shall cease and no indemnity shall be made therefor.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (First Shares Bancorp Inc)

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