Common use of Method and Manner of Paying Claims Clause in Contracts

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. In the event of any claims for indemnification Claims under this Article 8, the claimant shall advise the Party that is party or parties who are required to provide indemnification therefor in writing of the amount and circumstances surrounding such claim. With respect to a liquidated claimClaims, if within thirty (30) days the other Party party has not contested such claim Claim in writing, the other Party shall party will 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 any Indemnifying Party. The unpaid balance of a claim for indemnification under this Article 8 Claim shall bear interest at a rate per annum equal to the lowest prime rate published in the Wall Street Journal 13 -13- Xxxx Xxxxxx Xxxrnal in its "Money Rates" column on the date notice thereof is given by the Indemnified Party to the Indemnifying Party.