Limitations on Recoverable Losses. Notwithstanding anything to the contrary set forth herein, indemnification pursuant to this Article VIII shall be the sole remedy of the Parties for any breach of this Agreement or any other Losses relating to this Agreement and the transactions contemplated hereby; provided, however, that nothing in this Agreement (including this Section 8.8) shall limit or restrict any of the Indemnifying Party’s right to maintain or recover any amounts in connection with any action or claim based upon fraud or deceit or any remedy which might otherwise be available pursuant to applicable federal or state securities laws, including any relief which might otherwise be available pursuant to Section 10(b)(5) of the Exchange Act or any state law analog thereof. Seller’s aggregate liability for all (a) Losses under Section 8.1(a), other than Section 4.17 (Tax Matters) and the Fundamental Representations, shall not, exceed the sum of Three Million Dollars ($3,000,000) (the “Cap”)
Appears in 2 contracts
Samples: Acquisition and Share Exchange Agreement, Acquisition and Share Exchange Agreement (Corporate Resource Services, Inc.)
Limitations on Recoverable Losses. Notwithstanding anything to the contrary set forth herein, indemnification pursuant to this Article VIII shall be the sole remedy of the Parties for any breach of this Agreement or any other Losses relating to this Agreement and the transactions contemplated hereby; provided, however, that nothing in this Agreement (including this Section 8.8) shall limit or restrict any of the Indemnifying Party’s right to maintain or recover any amounts in connection with any action or claim based upon fraud or deceit or any remedy which might otherwise be available pursuant to applicable federal or state securities laws, including any relief which might otherwise be available pursuant to Section 10(b)(5) of the Exchange Act or any state law analog thereof. SellerParent’s aggregate liability for all (a) Losses under Section 8.1(a), other than Section 4.17 (Tax MattersTax), Section 4.24 (Certain Liabilities) and the Fundamental Representations, shall not, in each case, exceed the sum of Three Million Dollars ($3,000,000) 620,000 (the “Cap”)
Appears in 1 contract
Samples: Merger Agreement (Corporate Resource Services, Inc.)
Limitations on Recoverable Losses. Notwithstanding anything to the contrary set forth herein, indemnification pursuant to this Article VIII shall be the sole remedy of the Parties for any breach of this Agreement or any other Losses relating to this Agreement and the transactions contemplated hereby; provided, however, that nothing in this Agreement (including this Section 8.8) shall limit or restrict any of the Indemnifying Party’s right to maintain or recover any amounts in connection with any action or claim based upon fraud or deceit or any remedy which might otherwise be available pursuant to applicable federal or state securities laws, including any relief which might otherwise be available pursuant to Section 10(b)(5) of the Exchange Act or any state law analog thereof. SellerParent’s aggregate liability for all (a) Losses under Section 8.1(a), other than Section 4.17 (Tax Matters) and the Fundamental Representations, shall not, exceed the sum of Three Million Dollars seven hundred fifty thousand dollars ($3,000,000750,000) (the “Cap”)
Appears in 1 contract
Samples: Merger Agreement (Corporate Resource Services, Inc.)