Common use of Notice and Resolution of Claim Clause in Contracts

Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 and 9.3, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII except to the extent the indemnified party's failure to so notify in breach of this Section 9.4(a) materially prejudices the indemnifying party's ability to defend against such third party claim or litigation. The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 2 contracts

Samples: Asset Purchase Agreement (RMS Limited Partnership), Asset Purchase Agreement (Anschutz Digital Media Inc)

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Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall will promptly give written notice to the indemnifying party after obtaining knowledge of of: (i) any claim the indemnified party has against the indemnifying party not involving a third party claim or litigation; or (ii) any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 and 9.3Section 7.1 or 7.2, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, provided that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII VII except to the extent the indemnified party's failure to so notify in breach of this Section 9.4(a) materially actually prejudices the indemnifying party's ability to defend against such third party claim or litigation. The If such claim for indemnity arises from the claim or litigation of a third party, the indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Crown Energy Corp), Asset Purchase Agreement (Crown Energy Corp)

Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 and 9.37.2 or 7.3, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII VII except to the extent the indemnified party's ’s failure to so notify in breach of this Section 9.4(asubsection (a) materially prejudices the indemnifying party's ’s ability to defend against such third party claim or litigation. The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 1 contract

Samples: Asset Purchase Agreement (Accellent Corp.)

Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 8.2 and 9.38.3, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII except to the extent the indemnified party's failure to so notify in breach of this Section 9.4(a8.4(a) materially prejudices the indemnifying party's ability to defend against such third party claim or litigation. The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 1 contract

Samples: Unit Purchase Agreement (Qwest Communications International Inc)

Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 and 9.3through 9.5, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII IX except to the extent the indemnified party's failure to so notify in breach of this Section 9.4(a9.6(a) materially prejudices the indemnifying party's ability to defend against such third party claim or litigation. The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 1 contract

Samples: Purchase Agreement (Qwest Communications International Inc)

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Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 and 9.3Section 7.2, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII VII except to the extent the indemnified party's ’s failure to so notify in breach of this Section 9.4(aparagraph (a) materially prejudices the indemnifying party's ’s ability to defend against such third party claim or litigationlitigation (including but not limited to any prejudice to the indemnifying party’s rights under any applicable insurance policy). The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 1 contract

Samples: Stock Purchase Agreement (Knight Energy Corp.)

Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 and 9.3Section 8.2, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII VII except to the extent the indemnified party's failure to so notify in breach of this Section 9.4(aparagraph (a) materially prejudices the indemnifying party's ability to defend against such third party claim or litigationlitigation (including but not limited to any prejudice to the indemnifying party's rights under any applicable insurance policy). The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 1 contract

Samples: Stock Purchase Agreement (Arc Wireless Solutions Inc)

Notice and Resolution of Claim. (a) An indemnified party under this Agreement shall promptly give written notice to the indemnifying party after obtaining knowledge of any third party claim or litigation against the indemnified party as to which recovery may be sought against the indemnifying party because of the indemnity set forth in Sections 9.2 7.2 and 9.37.3, specifying in reasonable detail the claim or litigation and the basis for indemnification; provided, however, that the failure of the indemnified party promptly to notify the indemnifying party of any such matter shall not release the indemnifying party, in whole or in part, from its obligations under this Article VIII VII except to the extent the indemnified party's ’s failure to so notify in breach of this Section 9.4(aparagraph (a) materially prejudices the indemnifying party's ’s ability to defend against such third party claim or litigation. The indemnified party shall permit the indemnifying party to assume the defense of any such claim, litigation or any litigation resulting from such third party claim.

Appears in 1 contract

Samples: Interest Purchase Agreement (Brimfield Precision LLC)

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