Indemnity of Purchaser. Seller Parties, and each of them, jointly and severally, agrees to indemnify, defend and hold Purchaser harmless from and against any and all Losses arising out of or resulting from the breach by Seller of any representation, warranty, agreement or covenant contained in this Agreement or the exhibits and schedules hereto. Notwithstanding the foregoing provisions of this section, no claim for indemnification shall be made by Purchaser under this Section unless and until the aggregate amount of all Losses of Purchaser in respect thereof shall exceed $15,000, but then such indemnified parties shall be entitled to all indemnifiable Losses above and below such threshold.
Appears in 3 contracts
Samples: Reorganization and Asset Acquisition Agreement (SearchCore, Inc.), Reorganization and Asset Acquisition Agreement (SearchCore, Inc.), Reorganization and Asset Acquisition Agreement (General Cannabis, Inc.)
Indemnity of Purchaser. Seller Parties, and each of them, jointly and severally, agrees to indemnify, defend and hold Purchaser harmless from and against any and all Losses arising out of or resulting from the breach by Seller of any representation, warranty, agreement or covenant contained in this Agreement or the exhibits and schedules hereto. Notwithstanding the foregoing provisions of this section, no claim for indemnification shall be made by Purchaser under this Section unless and until the aggregate amount of all Losses of Purchaser in respect thereof shall exceed $15,000, but then such indemnified parties shall be entitled to all indemnifiable Losses above and below such threshold, up to a maximum of $1,000,000.
Appears in 3 contracts
Samples: Reorganization and Asset Acquisition Agreement (SearchCore, Inc.), Reorganization and Asset Acquisition Agreement (SearchCore, Inc.), Reorganization and Asset Acquisition Agreement (General Cannabis, Inc.)
