Limitation on Claims and Liability. Notwithstanding any provision of this Agreement to the contrary, no party shall have liability to indemnify the other and neither party may assert a claim for indemnification for damages suffered by it until and unless the party's claims for damages for which the other party is entitled to indemnification equal or exceed, in the aggregate, the sum of $10,000 (the "Damages Threshold"). Upon a party's cumulative claims for indemnification equaling the Damages Threshold, a party may assert claims for indemnification pursuant to Section 12.4 below for the full amount of such party's damages for which it is entitled to indemnification hereunder.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Oban Mining Inc), Agreement and Plan of Reorganization (Oban Mining Inc)
Limitation on Claims and Liability. Notwithstanding any provision of this Agreement to the contrary, no party shall have liability to indemnify the other and neither party may assert a claim for indemnification for damages suffered by it until and unless the party's claims for damages for which the other party is entitled to indemnification equal or exceed, in the aggregate, the sum of $10,000 (the "Damages Threshold"). Upon a party's cumulative claims for indemnification equaling the Damages Threshold, a party may assert claims for indemnification pursuant to Section 12.4 12.45 below for the full amount of such party's damages for which it is entitled to indemnification hereunder.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Guardian Technologies International Inc), Agreement and Plan of Reorganization (Guardian Technologies International Inc)
