Common use of Limitation of Amount Clause in Contracts

Limitation of Amount. Except in the case of a transfer in connection with the exercise of remedies during the continuance of a Lease Event of Default, EME shall not be obligated to make any indemnity payment to the Owner Participant in excess of the amount, calculated on an After-Tax Basis, that would have been payable hereunder had there not been a transfer of any direct or indirect interest in the Facility to any transferee by the Owner Participant after the Closing Date; provided, however, that such limitation shall not apply to any payment required to be made on an After-Tax Basis. Further, EME shall not be obligated to make any indemnity payment until the exhaustion of EME’s rights under Section 8.