Common use of NOTIFICATION OF CLAIMS; ELECTION TO DEFEND Clause in Contracts

NOTIFICATION OF CLAIMS; ELECTION TO DEFEND. 11.1 A party entitled to be indemnified pursuant to Section 10 hereof, (the "INDEMNIFIED PARTY"), shall notify the party liable for such indemnification (the "INDEMNIFYING PARTY") in writing of any claim or demand (a "CLAIM") that the Indemnified Party has determined, has given or could give rise to a right of indemnification hereunder. Subject to the Indemnifying Party's right to defend in good faith third party claims as hereinafter provided, the Indemnifying Party shall satisfy its obligations under this Article V within 30 days after the receipt of written notice thereof from the Indemnified Party. Any amounts paid thereafter shall include interest thereon for the period commencing at the end of such 30-day period and ending on the actual date of payment, at a rate of 10% per annum.

NOTIFICATION OF CLAIMS; ELECTION TO DEFEND. 11.1 (a) A party entitled to be indemnified pursuant to Section 10 10.1 or 10.2 hereof, as the case may be (the "INDEMNIFIED PARTYIndemnified Party"), shall notify the party liable for such indemnification (the "INDEMNIFYING PARTYIndemnifying Party") in writing of any claim or demand (a "CLAIMClaim") that the Indemnified Party has determined, determined has given or could give rise to a right of indemnification hereunderunder this Agreement. Subject to the Indemnifying Party's right to defend in good faith third party claims Claims as hereinafter provided, the Indemnifying Party shall satisfy its obligations under this Article V within 30 days after the receipt of written notice thereof from the Indemnified Party. Any amounts paid thereafter shall include interest thereon for the period commencing at the later of (i) the end of such 30-day period and (ii) the date the claim is paid by the Indemnified Party and ending on the actual date of payment, at a rate of 1015% per annum, or, if lower, at the highest rate of interest permitted by applicable law at the time of such payment.

NOTIFICATION OF CLAIMS; ELECTION TO DEFEND. 11.1 (a) A party entitled to be indemnified pursuant to Section 10 10.1 or 10.2 hereof, as the case may be (the "INDEMNIFIED PARTYIndemnified Party"), shall notify the party liable for such indemnification (the "INDEMNIFYING PARTYIndemnifying Party") in writing of any claim or demand (a "CLAIMClaim") that the Indemnified Party has determined, determined has given or could give rise to a right of indemnification hereunderunder this Agreement. Subject to the Indemnifying Party's right to defend in good faith third party claims Claims as hereinafter provided, the Indemnifying Party shall satisfy its obligations under this Article V X within 30 days after the receipt of written notice thereof from the Indemnified Party. Any amounts paid thereafter shall include interest thereon for the period commencing at the later of (i) the end of such 30-day period and (ii) the date the Claim is paid by the Indemnified Party and ending on the actual date of payment, at a rate of 1015% per annum, or, if lower, at the highest rate of interest permitted by applicable law at the time of such payment.

NOTIFICATION OF CLAIMS; ELECTION TO DEFEND. 11.1 (a) A party entitled to be indemnified pursuant to Section 10 5.1 or 5.2 hereof, as the case may be (the "INDEMNIFIED PARTYIndemnified Party"), shall notify the party liable for such indemnification (the "INDEMNIFYING PARTYIndemnifying Party") in writing of any claim or demand (a "CLAIMClaim") that the Indemnified Party has determined, determined has given or could give rise to a right of indemnification hereunderunder this Agreement. Subject to the Indemnifying Party's right to defend in good faith third party claims Claims as hereinafter provided, the Indemnifying Party shall satisfy its obligations under this Article V within 30 days after the receipt of written notice thereof from the Indemnified Party. Any amounts paid thereafter shall include interest thereon for the period commencing at the later of (i) the end of such 30-day period and (ii) the date the claim is paid by the Indemnified Party and ending on the actual date of payment, at a rate of 1015% per annum, or, if lower, at the highest rate of interest permitted by applicable law at the time of such payment.