Common use of Deductible, Threshold and Cap Clause in Contracts

Deductible, Threshold and Cap. Notwithstanding anything to the contrary set forth herein, Seller shall have no obligation or liability for indemnification under Section 11.2 (except for breaches of the representations and warranties set forth in Sections 4.1(a), 4.1(b), 4.1(c), 4.1(e), 4.1(h) and 4.1(j))for (a) any individual indemnity claim under this Article XI, the amount of which does not exceed Sixty Thousand Dollars ($60,000) (the “Indemnity Threshold”); provided, however, that, for purposes of calculating the value of any claim for indemnification under this Section 11.3, an event or related series of events affecting any one Property, or more than one Property, shall be deemed to be a single claim, and/or (b) any 56 individual indemnity claim that exceeds the Indemnity Threshold, unless and until the aggregate of all such individual indemnity claims that exceed the Indemnity Threshold, exceed Seven Million Eighty Thousand Dollars ($7,080,000) (the “Indemnity Deductible”), and then only with respect to the amount of such indemnity claims that exceed the Indemnity Deductible and that are less than Sixty Million Dollars ($60,000,000) (the “Indemnity Cap”). Notwithstanding anything herein to the contrary, Buyer shall not bring an indemnity claim pursuant to Section 11.2(a) against Seller with respect to a breach of representation claim as a result of the Knowledge of any Person other than Xxxxxxx X. Xxxxxx unless Xxxxx is also bringing an indemnity claim against NPE under the NPE Agreement with respect to the same breach of representation.

Deductible, Threshold and Cap. Notwithstanding anything to the contrary set forth herein, Seller shall have no obligation or liability for indemnification under Section 11.2 (except for breaches of the representations and warranties set forth in Sections 4.1(a), 4.1(b), 4.1(c), 4.1(e), 4.1(h) and 4.1(j))for (a) any individual indemnity claim under this Article XI, the amount of which does not exceed Sixty Forty Thousand Dollars ($60,00040,000) (the “Indemnity Threshold”); provided, however, that, for purposes of calculating the value of any claim for indemnification under this Section 11.3, an event or related series of events affecting any one Property, or more than one Property, shall be deemed to be a single claim, and/or (b) any 56 individual indemnity claim that exceeds the Indemnity Threshold, unless and until the aggregate of all such individual indemnity claims that exceed the Indemnity Threshold, exceed Four Million Seven Million Eighty Hundred Twenty Thousand Dollars ($7,080,0004,720,000) (the “Indemnity Deductible”), and then only with respect to the amount of such indemnity claims that exceed the Indemnity Deductible and that are less than Sixty Forty Million Dollars ($60,000,00040,000,000) (the “Indemnity Cap”). Notwithstanding anything herein to the contrary, Buyer shall not bring an indemnity claim pursuant to Section 11.2(a) against Seller with respect to a breach of representation claim as a result of the Knowledge of any Person other than J. Xxxxxxx Xxxxxx, Xxxxxx X. Xxxx, Xxxxxx Xxxxxxx, Xxx X. Xxxxxxxxx or Xxxxx X. X’Xxxxxxx unless Xxxxx Buyer is also bringing an indemnity claim against NPE Mercuria under the NPE Mercuria Agreement with respect to the same breach of representation.

Deductible, Threshold and Cap. Notwithstanding anything to the contrary set forth herein, Seller shall have no obligation or liability for indemnification under Section 11.2 (except for breaches of the representations and warranties set forth in Sections 4.1(a), 4.1(b), 4.1(c), 4.1(e), 4.1(h) and 4.1(j))for (a) any individual indemnity claim under this Article XI, the amount of which does not exceed Sixty Thousand Dollars ($60,000) (the “Indemnity Threshold”); provided, however, that, for purposes of calculating the value of any claim for indemnification under this Section 11.3, an event or related series of events affecting any one Property, or more than one Property, shall be deemed to be a single claim, and/or (b) any 56 individual indemnity claim that exceeds the Indemnity Threshold, unless and until the aggregate of all such individual indemnity claims that exceed the Indemnity Threshold, exceed Seven Million Eighty Thousand Dollars ($7,080,000) (the “Indemnity Deductible”), and then only with respect to the amount of such indemnity claims that exceed the Indemnity Deductible and that are less than Sixty Million Dollars ($60,000,000) (the “Indemnity Cap”). Notwithstanding anything herein to the contrary, Buyer shall not bring an indemnity claim pursuant to Section 11.2(a) against Seller with respect to a breach of representation claim as a result of the Knowledge of any Person other than Xxxxxxx X. Xxxxxx unless Xxxxx Buyer is also bringing an indemnity claim against NPE under the NPE Agreement with respect to the same breach of representation.

Deductible, Threshold and Cap. Notwithstanding anything to the contrary set forth herein, Seller shall have no obligation or liability for indemnification under Section 11.2 (except for breaches of the representations and warranties set forth in Sections 4.1(a), 4.1(b), 4.1(c), 4.1(e), 4.1(h) and 4.1(j))for (a) any individual indemnity claim under this Article XI, the amount of which does not exceed Sixty Thousand Dollars ($60,000) (the “Indemnity Threshold”); provided, however, that, for purposes of calculating the value of any claim for indemnification under this Section 11.3, an event or related series of events affecting any one Property, or more than one Property, shall be deemed to be a single claim, and/or (b) any 56 individual indemnity claim that exceeds the Indemnity Threshold, unless and until the aggregate of all such individual indemnity claims that exceed the Indemnity Threshold, exceed Seven Million Eighty Thousand Dollars ($7,080,000) (the “Indemnity Deductible”), and then only with respect to the amount of such indemnity claims that exceed the Indemnity Deductible and that are less than Sixty Million Dollars ($60,000,000) (the “Indemnity Cap”). Notwithstanding anything herein to the contrary, Buyer shall not bring an indemnity claim pursuant to Section 11.2(a) against Seller with respect to a breach of representation claim as a result of the Knowledge of any Person other than Xxxxxxx X. Xxxxxx unless Xxxxx Buyer is also bringing an indemnity claim against NPE under the NPE Agreement with respect to the same breach of representation.