Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.6 and 3.8 hereof, exceeds $5,000 (the “Basket”) and, in such event, the Indemnifying Party shall be required to pay the entire amount of such Losses and Expenses.
Appears in 2 contracts
Samples: Share Exchange Agreement (Havana Furnishings Inc.), Share Exchange Agreement (CornerWorld Corp)
Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.6 3.7, 3.10 and 3.8 3.15 hereof, exceeds $5,000 (the “"Basket”") and, in such event, the Indemnifying Party shall be required to pay the entire amount of such Losses and Expenses.
Appears in 2 contracts
Samples: Share Exchange Agreement (Bongiovi Entertainment Inc), Share Exchange Agreement (Synerteck Inc)
Limitations on Indemnification for Breaches of Representations and Warranties. (a) An Indemnifying Party shall not have any liability under Section 9.1(a)(ii9.2(a)(i), 9.2(b)(i) or Section 9.1(b9.3(a) hereof unless and until the aggregate amount of Losses and Expenses to the indemnified parties Indemnified Parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.6 and 3.8 hereofFundamental Representations, exceeds $5,000 300,000 (the “BasketThreshold Amount”) and, in such event, the Indemnifying Party shall be required to pay only the entire amount in excess of such Losses and Expenses$300,000.
Appears in 1 contract
Samples: Stock Purchase Agreement (Titanium Asset Management Corp)
Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party indemnifying party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b9.1(b)(i) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to that arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.6 4.3, 4.11, 4.24 and 3.8 4.29 hereof, exceeds $5,000 (the “Basket”) and, in such event, the Indemnifying Party indemnifying party shall be required to pay the entire amount of such Losses and ExpensesExpenses in excess of $5,000 (the “Deductible”).
Appears in 1 contract