Common use of Liability and Remedies, etc Clause in Contracts

Liability and Remedies, etc. Except as set forth below, no individual ---------------------------- Representative of any party shall be personally liable for any Damages under the provisions contained in this Section 10.3. Nothing herein shall relieve either party of any liability to make any payment expressly required to be made by such party pursuant to this Agreement. The term "Damages" as used in this Section 10.3 is not limited to matters asserted by third parties against Sellers or Buyer, but includes Damages incurred or sustained by an indemnified party in the absence of third party claims. Payments by an indemnified party of amounts for which such party is indemnified hereunder shall not be a condition precedent to recovery. Sellers' obligations to indemnify Buyer, and Parent and Buyer's obligation to indemnify Sellers, shall not limit any other rights, including without limitation rights of contribution which either party may have under statute or common law. Buyer and Sellers agree and acknowledge that collection under the Escrow Agreement shall not be Buyer's exclusive method of receiving indemnification from Sellers pursuant to Section 10.3; rather, Buyer and its Affiliates and Representatives will have all other remedies provided by law or in this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Rental Service Corp)

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Liability and Remedies, etc. Except as set forth below, no ---------------------------- individual ---------------------------- Representative of any party shall be personally liable for any Damages under the provisions contained in this Section 10.3. Nothing herein shall relieve either party of any liability to make any payment expressly required to be made by such party pursuant to this Agreement. The term "Damages" as used in this Section 10.3 is not limited to matters asserted by third parties against Sellers Seller or Buyer, but includes Damages incurred or sustained by an indemnified party Sellers or Buyer in the absence of third party claims. Payments by an indemnified party Buyer of amounts for which such party Buyer is indemnified hereunder hereunder, and payments by Sellers of amounts for which Seller is indemnified, shall not be a condition precedent to recovery. Sellers' obligations obligation to indemnify Buyer, and Parent and Buyer's obligation to indemnify Sellers, shall not limit any other rights, including without limitation rights of contribution which either party may have under statute or common law. Buyer and Sellers agree and acknowledge that collection under offset against the Escrow Agreement Holdback Amount shall not be Buyer's exclusive method of receiving indemnification from Sellers pursuant to Section 10.3; rather, Buyer and its Affiliates and Representatives will have all other remedies provided by law or in this Agreement. The Seller Stockholder shall be liable with Sellers with respect to all indemnification obligations of Sellers under this Section 10.3.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rental Service Corp)

Liability and Remedies, etc. Except as set forth below, no ---------------------------- individual ---------------------------- Representative of any party shall be personally liable for any Damages under the provisions contained in this Section 10.3. Nothing herein shall relieve either party of any liability to make any payment expressly required to be made by such party pursuant to this Agreement. The term "Damages" as used in this Section 10.3 is not limited to matters asserted by third parties against Sellers Seller or Buyer, but includes Damages incurred or sustained by an indemnified party Seller or Buyer in the absence of third party claims. Payments by an indemnified party Buyer of amounts for which such party Buyer is indemnified hereunder hereunder, and payments by Seller of amounts for which Seller is indemnified, shall not be a condition precedent to recovery. Sellers' obligations Seller's obligation to indemnify Buyer, and Parent and Buyer's obligation to indemnify SellersSeller, shall not limit any other rights, including without limitation rights of contribution which either party may have under statute or common law. Buyer and Sellers Seller agree and acknowledge that collection under offset against the Escrow Agreement Holdback Amount shall not be Buyer's exclusive method of receiving indemnification from Sellers Seller pursuant to Section 10.3; rather, Buyer and its Affiliates and Representatives will have all other remedies provided by law or in this Agreement. The Seller Stockholder shall be jointly and severally liable with Seller with respect to all indemnification obligations of Seller under this Section 10.3.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rental Service Corp)

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Liability and Remedies, etc. Except as set forth below, no ---------------------------- individual ---------------------------- Representative of any party shall be personally liable for any Damages under the provisions contained in this Section 10.3. Nothing herein shall relieve either party of any liability to make any payment expressly required to be made by such party pursuant to this Agreement. The term "Damages" as used in this Section 10.3 is not limited to matters asserted by third parties against Sellers Seller or Buyer, but includes Damages incurred or sustained by an indemnified party Seller or Buyer in the absence of third party claims. Payments by an indemnified party Buyer of amounts for which such party Buyer is indemnified hereunder hereunder, and payments by Seller of amounts for which Seller is indemnified, shall not be a condition precedent to recovery. Sellers' obligations Seller's obligation to indemnify Buyer, and Parent and Buyer's obligation to indemnify SellersSeller, shall not limit any other rights, including without limitation rights of contribution which either party may have under statute or common law. Buyer and Sellers Seller agree and acknowledge that collection under offset against the Escrow Agreement Holdback Amount shall not be Buyer's exclusive method of receiving indemnification from Sellers Seller pursuant to Section 10.3; rather, Buyer and its Affiliates and Representatives will have all other remedies provided by law or in this Agreement. The Seller Stockholders shall be jointly and severally liable with Seller with respect to all indemnification obligations of Seller under this Section 10.3.

Appears in 1 contract

Samples: Asset Purchase Agreement (Rental Service Corp)

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