Method and Manner of Paying Claims. In the event of any claims under this Section 11, the claimant shall advise the party or parties who are required to provide indemnification therefor in writing of the amount and circumstances surrounding such claim in reasonable detail. With respect to liquidated claims, if within thirty days the other party has not contested such claim in writing, the other party will pay the full amount thereof within ten days after the expiration of such period. Any amount owed by an Indemnifying Party hereunder with respect to any Claim may be set-off by the Indemnified Party against any amounts owed by the Indemnified Party to any Indemnifying Party. The unpaid balance of a Claim shall bear interest at the Prime Rate from the date notice thereof is given by the Indemnified Party to the Indemnifying Party.
Method and Manner of Paying Claims. With respect to any liquidated Claim or other claim that has been the subject of a notice under Section 9.3(a) above, if within (30) thirty days after the receipt of written notice thereof under Section 9.3(a) hereof the Indemnifying Party has not contested such Claim in writing, the Indemnifying Party will pay the full amount thereof within ten (10) days after the expiration of such period. Any amount owed by an Indemnifying Party hereunder with respect to any Claim may be set-off by the Indemnified Party against any amounts owed by the Indemnified Party to any Indemnifying Party.
Method and Manner of Paying Claims. In the event of any claims for indemnification under this Article 8, the claimant shall advise the Party that is required to provide indemnification therefor in writing of the amount and circumstances surrounding such claim. With respect to a liquidated claim, if within thirty (30) days the other Party has not contested such claim in writing, the other Party shall pay the full amount thereof within ten (10) days after the expiration of such 30-day period. Any amount owed by an Indemnifying Party hereunder with respect to any Claim may be set-off by the Indemnified Party against any amounts owed by the Indemnified Party to the Indemnifying Party. The unpaid balance of a claim for indemnification under this Article 8 shall bear interest at a rate per annum equal to the lowest prime rate published in the Wall Street Journal in its "Money Rates" column on the date notice thereof is given by the Indemnified Party to the Indemnifying Party.
Method and Manner of Paying Claims. Subject to the Indemnifying Party's right pursuant to Section 11.5 to defend, negotiate, compromise and settle a Third Party Claim, the amount of any Claim shall be paid by the Indemnifying Party forthwith on demand. The unpaid balance of a Claim shall bear interest at the Prime Rate plus 600 basis points from the date notice thereof is given by the Indemnified Party to the Indemnifying Party; provided that the Indemnifying Party shall only be obligated to pay interest on that portion of such Claim ultimately determined to be owed to the Indemnified Party.
Method and Manner of Paying Claims. In the event any claim included in a Claim Notice is contested by Indemnitor Representative, he shall provide a written notice delivered to Indemnitee Representative within fifteen (15) calendar days after the delivery of the Claim Notice, such notice describing in reasonable detail the grounds for contesting any such claims. In the event any claim included in a Claim Notice is not contested as provided in the previous sentence, Indemnitee Representative shall instruct the Escrow Agent as to the number of Escrow Shares that shall be released from escrow and delivered to their holders pro rata in satisfaction of the claims, which number shall equal (x) the amount of the applicable Loss, (y) divided by $0.25.
Method and Manner of Paying Claims. In the event of any Claims under this Section 10, the claimant shall advise the party or parties who are required to provide indemnification therefor in writing of the amount and circumstances surrounding such claim. With respect to liquidated claims, if within thirty (30) days the other party has not contested such claim in writing, the other party will pay the full amount thereof within ten (10) days after the expiration of such period. Any amount owed by an Indemnifying Party hereunder with respect to any Claim may be set-off by the Indemnified Party against any amounts owed by the Indemnified Party to any Indemnifying Party.
Method and Manner of Paying Claims. In the event of any Claims under this Article 5, the Indemnified Party shall advise the Indemnifying Party in writing of the amount and circumstances surrounding such Claim. With respect to liquidated Claims, if within 30 days the Indemnifying Party has not contested such Claim in writing, the Indemnified Party will pay the full amount thereof within ten days after the expiration of such period. Any amount owed by an Indemnifying Party hereunder with respect to any Claim may be set-off by the Indemnified Party (at the sole option of the Indemnified Party) against any amounts owed by the Indemnified Party to the Indemnifying Party, including, as to any Buyer Indemnified Party, any Deferred Payments and Earnout Amounts owed by the Buyer to the Sellers pursuant hereto. The unpaid balance of a Claim shall bear interest at a rate per annum equal to the rate announced by Citibank, N.A., as its “Base Rate” plus five percent (5%) from the date notice thereof is given by the Indemnified Party to the Indemnifying Party.
Method and Manner of Paying Claims. In the event of any Claims under this Section 13, the claimant shall advise the party or parties who are required to provide indemnification therefor in writing of the amount and circumstances surrounding such claim. With respect to liquidated Claims, if within thirty (30) days the other party has not contested such Claim in writing, then, and subject to the limitations with respect to Claims set forth in Section 13.5 below, the other party will pay the full amount of such liquidated Claim within ten (10) days after the expiration of such thirty-day period. Any amount owed by any of the Sellers as an Indemnifying Party hereunder with respect to any Claim (other than Unlimited Claims and Cash Tax Claims, each as defined below) shall be paid in accordance with, and subject to the recourse limitations referred to in, Section 13.6
Method and Manner of Paying Claims. Subject to the Indemnifying Party's right pursuant to Section 12.3 hereof to defend, negotiate, compromise and settle a Third Party Claim, the amount of any Claim shall be paid by the Indemnifying Party forthwith on demand; provided that, (x) if any tax lien resulting from the Indemnified Tax Liabilities is imposed or arises by operation of law against the Acquired Assets, the Purchased Business and/or the Buyer; (y) if the Seller or any of the Shareholders breach its or his obligations under the Environmental Agreement or under Sections 10 or 11 of this Agreement; or (z) (subject to the time limitation periods in Section 12.5) have breached their other representations, warranties, covenants, and/or agreements under this Agreement, then, in addition to the other remedies set forth in this Agreement, the Buyer and Chemfab shall have an automatic right to tender payment documents to the Issuing Bank (with a copy to the Seller) demanding payment against the Letter of Credit of the amount payable under the Assumed Loans, and any other monies now or hereafter payable to the Company or any of the Shareholders. If the Indemnifying Party fails to pay any such Claim forthwith on demand, the Indemnified Party may (i) proceed directly against the Indemnifying Party to recover the amount of such Claim or (ii) set off the amount of such Claim against amounts owed by the Indemnified Party to the Indemnifying Party.
Method and Manner of Paying Claims. In the event of any Claims under this Section 10, the claimant shall advise the party or parties who are required to provide indemnification therefor in writing of the amount and circumstances surrounding such Claim. With respect to liquidated Claims, if within thirty days the Indemnifying Party has not contested such claim in writing, the Indemnifying Party will pay the full amount thereof within ten days after the expiration of such period. Any amount owed by an Indemnifying Party hereunder with respect to any Claim may be set-off by the Indemnified Party against any amounts owed by the Indemnified Party to any Indemnifying Party. The balance of an indemnifiable Claim which has been paid by the Indemnified Party shall bear interest at a rate per annum equal to the rate announced by Bank of America, N.A., as its "Base Rate" plus two percent (2%) from the date notice thereof is given by the Indemnified Party to the Indemnifying Party.
