Common use of Indemnification Claim Procedure Clause in Contracts

Indemnification Claim Procedure. If an ATDH Party learns of any matter that it believes will entitle the ATDH Party to indemnification from the Shareholders under this Article VII, the ATDH Party shall provide to the Shareholders notice describing the matter in reasonable detail, including the nature of the claim, the basis for the indemnification obligation, to the extent reasonably estimable, the estimated Losses resulting therefrom, and reasonable supporting documentation (a “Notice of Claim”). The Shareholders shall have twenty (20) Business Days after its receipt of the Notice of Claim to respond to the claim(s) described therein. Such response shall set forth, in reasonable detail, the Shareholders’ objection(s) to the claim(s), its bases for such objection(s) and reasonable documentation supporting its objection(s). If the Shareholders fail to provide such a response with such time period, the Shareholders will be deemed to have conceded the claim(s) set forth in the Notice of Claim. If the Shareholders provide such a response within such time period, the ATDH Party and the Shareholders shall negotiate in good faith resolution of the disputed claim(s) for a period of not less than twenty (20) Business Days after the response is provided. If the Shareholders and the ATDH Party are unable to resolve any such claim(s) within such time period, the ATDH Party shall be entitled to pursue any legal remedies available to the ATDH Party against the Shareholders with respect to the unresolved claim(s), subject to the other provisions of this Article VII, to the extent applicable.

Indemnification Claim Procedure. If an ATDH Asian Trends Party learns of any matter that it believes will entitle the ATDH Asian Trends Party to indemnification from the Shareholders Shareholder under this Article VII, the ATDH Asian Trends Party shall provide to the Shareholders Shareholder notice describing the matter in reasonable detail, including the nature of the claim, the basis for the indemnification obligation, to the extent reasonably estimable, the estimated Losses resulting therefrom, and reasonable supporting documentation (a “Notice of Claim”). The Shareholders Shareholder shall have twenty (20) Business Days after its receipt of the Notice of Claim to respond to the claim(s) described therein. Such response shall set forth, in reasonable detail, the ShareholdersShareholder’ objection(s) to the claim(s), its bases for such objection(s) and reasonable documentation supporting its objection(s). If the Shareholders fail Shareholder fails to provide such a response with such time period, the Shareholders Shareholder will be deemed to have conceded the claim(s) set forth in the Notice of Claim. If the Shareholders provide Shareholder provides such a response within such time period, the ATDH Asian Trends Party and the Shareholders Shareholder shall negotiate in good faith resolution of the disputed claim(s) for a period of not less than twenty (20) Business Days after the response is provided. If the Shareholders Shareholder and the ATDH Asian Trends Party are unable to resolve any such claim(s) within such time period, the ATDH Asian Trends Party shall be entitled to pursue any legal remedies available to the ATDH Asian Trends Party against the Shareholders Shareholder with respect to the unresolved claim(s), subject to the other provisions of this Article VII, to the extent applicable.

Indemnification Claim Procedure. If an ATDH Great East Party learns of any matter that it believes will entitle the ATDH Great East Party to indemnification from the Shareholders Shareholder under this Article VII, the ATDH Great East Party shall provide to the Shareholders Shareholder notice describing the matter in reasonable detail, including the nature of the claim, the basis for the indemnification obligation, to the extent reasonably estimable, the estimated Losses resulting therefrom, and reasonable supporting documentation (a “Notice of Claim”). The Shareholders Shareholder shall have twenty (20) Business Days after its receipt of the Notice of Claim to respond to the claim(s) described therein. Such response shall set forth, in reasonable detail, the ShareholdersShareholder’ objection(s) to the claim(s), its bases for such objection(s) and reasonable documentation supporting its objection(s). If the Shareholders fail Shareholder fails to provide such a response with such time period, the Shareholders Shareholder will be deemed to have conceded the claim(s) set forth in the Notice of Claim. If the Shareholders provide Shareholder provides such a response within such time period, the ATDH Great East Party and the Shareholders Shareholder shall negotiate in good faith resolution of the disputed claim(s) for a period of not less than twenty (20) Business Days after the response is provided. If the Shareholders Shareholder and the ATDH Great East Party are unable to resolve any such claim(s) within such time period, the ATDH Great East Party shall be entitled to pursue any legal remedies available to the ATDH Great East Party against the Shareholders Shareholder with respect to the unresolved claim(s), subject to the other provisions of this Article VII, to the extent applicable.

Indemnification Claim Procedure. If an ATDH Galt Party learns of any matter that it believes will entitle the ATDH Galt Party to indemnification from the Shareholders under this Article VII, the ATDH Galt Party shall provide to the Shareholders notice describing the matter in reasonable detail, including the nature of the claim, the basis for the indemnification obligation, to the extent reasonably estimable, the estimated Losses resulting therefrom, and reasonable supporting documentation (a “Notice of Claim”). The Shareholders shall have twenty (20) Business Days after its receipt of the Notice of Claim to respond to the claim(s) described therein. Such response shall set forth, in reasonable detail, the Shareholders’ objection(s) to the claim(s), its bases for such objection(s) and reasonable documentation supporting its objection(s). If the Shareholders fail to provide such a response with such time period, the Shareholders will be deemed to have conceded the claim(s) set forth in the Notice of Claim. If the Shareholders provide such a response within such time period, the ATDH Galt Party and the Shareholders shall negotiate in good faith resolution of the disputed claim(s) for a period of not less than twenty (20) Business Days after the response is provided. If the Shareholders and the ATDH Galt Party are unable to resolve any such claim(s) within such time period, the ATDH Galt Party shall be entitled to pursue any legal remedies available to the ATDH Galt Party against the Shareholders with respect to the unresolved claim(s), subject to the other provisions of this Article VII, to the extent applicable.