Common use of Conduct of Litigation Clause in Contracts

Conduct of Litigation. (a) Subject to the limitations set forth in Section 6.6 hereof, whenever a claim for indemnification shall arise under this Article VI, the Party (or Parties) seeking indemnification (the “Indemnified Party”) shall notify, in writing, the Party (or Parties) from whom indemnification is sought (the “Indemnifying Party”) of such claim, together with an estimate of the amount of such claim in reasonable detail, and, as soon as known, the facts constituting the basis for such claim. The Indemnified Party shall be under a duty to take commercially reasonable efforts to mitigate the losses relating to any such claim, and any losses incurred in such commercially reasonable mitigation efforts shall constitute losses for purposes of this Article VI.

Appears in 4 contracts

Samples: Sale and Purchase Agreement, Sale and Purchase Agreement (Fleminghouse Investments LTD), Sale and Purchase Agreement (Fleminghouse Investments LTD)

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Conduct of Litigation. (a) Subject to the limitations set forth in Section 6.6 hereof, whenever a claim for indemnification shall arise under this Article VI, the Party (or Parties) seeking indemnification (the "Indemnified Party") shall notify, in writing, the Party (or Parties) from whom indemnification is sought (the "Indemnifying Party") of such claim, together with an estimate of the amount of such claim in reasonable detail, and, as soon as known, the facts constituting the basis for such claim. The Indemnified Party shall be under a duty to take commercially reasonable efforts to mitigate the losses relating to any such claim, and any losses incurred in such commercially reasonable mitigation efforts shall constitute losses for purposes of this Article VI.

Appears in 3 contracts

Samples: Sale and Purchase Agreement (Emvelco Corp.), Sale and Purchase Agreement (Euroweb International Corp), Sale and Purchase Agreement (Euroweb International Corp)

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