Common use of Escrow Claims Clause in Contracts

Escrow Claims. If any claim for indemnification is made by an Indemnified Party pursuant to this Article VIII prior to the expiration of the Escrow Period, such Indemnified Party shall first apply to the Escrow Agent provided in Section 2.5 of this Agreement for reimbursement of such claim in accordance with the provisions of the Escrow Agreement; provided, however, the Escrow Sum is not intended to be an exclusive remedy in the event Buyer has indemnification claims hereunder which exceed such amount.

Appears in 3 contracts

Samples: Stock Purchase Agreement (Global Vacation Group Inc), Stock Purchase Agreement (Global Vacation Group Inc), Stock Purchase Agreement (Global Vacation Group Inc)

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Escrow Claims. If any claim for indemnification is made by an Indemnified Party pursuant to this Article ARTICLE VIII prior to the expiration of the Escrow Period, such Indemnified Party shall first apply to the Escrow Agent provided in Section 2.5 of this Agreement for reimbursement of such claim in accordance with the provisions of the Escrow Agreement; provided, however, that the Escrow Sum is not intended to be an exclusive remedy in the event Buyer has indemnification claims hereunder which exceed such amount.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Global Vacation Group Inc), Asset Purchase Agreement (Global Vacation Group Inc)

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