Common use of Objections to Claims; Resolution of Conflicts Clause in Contracts

Objections to Claims; Resolution of Conflicts. (i) The Responding Party will have the right to object to the Claiming Party’s right to be indemnified pursuant to this Section 6.11 for any Claim made pursuant to Section 7.2(a) by delivering written notice of such objection (each, a “Claim Objection Notice”) to the applicable Claiming Party within ten (10) Business Days following the Responding Party’s receipt of a Claim Notice (such period, the “Claim Objection Period”). The Claim Objection Notice with respect to any Claim will specify in reasonable detail the basis for the Responding Party’s objection to such Claim. In the event that the Responding Party does not object to a Claim within the Claim Objection Period, (A) the Responding Party will be deemed to have accepted and agreed to the Claim set forth in the Claim Notice and (B) the Purchaser Indemnified Persons’ or Seller Indemnified Persons’ right to recovery in respect of such Claim will be effective as of the day following the expiration of the Claim Objection Period.

Appears in 1 contract

Samples: Purchase Agreement (Medicine Man Technologies, Inc.)

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Objections to Claims; Resolution of Conflicts. (i) The Responding Party will have the right to object to the Claiming Party’s right to be indemnified pursuant to this Section 6.11 ARTICLE VII for any Claim made pursuant to Section 7.2(a) by delivering written notice of such objection (each, a “Claim Objection Notice”) to the applicable Claiming Party within ten (10) Business Days days following the Responding Party’s receipt of a Claim Notice (such period, the “Claim Objection Period”). The Claim Objection Notice with respect to any Claim will specify in reasonable detail the basis for the Responding Party’s objection to such Claim. In the event that the Responding Party does not object to a Claim within the Claim Objection Period, (A) the Responding Party will be deemed to have accepted and agreed to the Claim set forth in the Claim Notice and will be precluded from raising any objection thereto after the Claim Objection Period, and (B) the Purchaser Indemnified Persons’ or Seller Indemnified Persons’ right to recovery in respect of such Claim by offset against the Holdback Amount or payment in cash, as applicable, pursuant to Section 7.7 will be effective as of the day following the expiration of the Claim Objection Period.

Appears in 1 contract

Samples: Asset Purchase Agreement (Medicine Man Technologies, Inc.)

Objections to Claims; Resolution of Conflicts. (i) The Responding Party will have the right to object to the Claiming Party’s right to be indemnified pursuant to this Section 6.11 Article VII for any Claim made pursuant to Section 7.2(a) by delivering written notice of such objection (each, a “Claim Objection Notice”) to the applicable Claiming Party within ten thirty (1030) Business Days days following the Responding Party’s receipt of a Claim Notice (such period, the “Claim Objection Period”). The Claim Objection Notice with respect to any Claim will specify in reasonable detail the basis for the Responding Party’s objection to such Claim. In the event that the Responding Party does not object to a Claim within the Claim Objection Period, (A) the Responding Party will be deemed to have accepted and agreed to the Claim set forth in the Claim Notice and will be precluded from raising any objection thereto after the Claim Objection Period, and (B) the Purchaser Indemnified Persons’ or Seller Indemnified Persons’ Claiming Party’s right to recovery in respect of such Claim will be as provided pursuant to Section 7.7 and will be effective as of the day following the expiration of the Claim Objection Period.

Appears in 1 contract

Samples: Asset Purchase Agreement (Medicine Man Technologies, Inc.)

Objections to Claims; Resolution of Conflicts. (i) The Responding Party will shall have the right to object to the Claiming Party’s right to be indemnified pursuant to this Section 6.11 for any Claim made pursuant to Section 7.2(a6.2(a) by delivering written notice of such objection (each, a “Claim Objection Notice”) to the applicable Claiming Party within ten (10) Business Days business days following the Responding Party’s receipt of a Claim Notice (such period, the “Claim Objection Period”). The Claim Objection Notice with respect to any Claim will shall specify in reasonable detail the basis for the Responding Party’s objection to such Claim. In the event that the Responding Party does not object to a Claim within the Claim Objection Period, (A) the Responding Party will shall be deemed to have accepted and agreed to the Claim set forth in the Claim Notice and shall be precluded from raising any objection thereto after the Claim Objection Period, and (B) the Purchaser Indemnified Persons’ or Seller Indemnified Persons’ right to recovery payment in respect of such Claim will from the Escrow Amount pursuant to Section 6.1(b) or otherwise in accordance with Section 6.7, as applicable, shall be effective as of the day following the expiration of the Claim Objection Period.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (M/a-Com Technology Solutions Holdings, Inc.)

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Objections to Claims; Resolution of Conflicts. (i) The Responding Party will have the right to object to the Claiming Party’s right to be indemnified pursuant to this Section 6.11 Article VII for any Claim made pursuant to Section 7.2(a) by delivering written notice of such objection (each, a “Claim Objection Notice”) to the applicable Claiming Party within ten (10) Business Days days following the Responding Party’s receipt of a Claim Notice (such period, the “Claim Objection Period”). The Claim Objection Notice with respect to any Claim will specify in reasonable detail the basis for the Responding Party’s objection to such Claim. In the event that the Responding Party does not object to a Claim within the Claim Objection Period, (A) the Responding Party will be deemed to have accepted and agreed to the Claim set forth in the Claim Notice and will be precluded from raising any objection thereto after the Claim Objection Period, and (B) the Purchaser Indemnified Persons’ or Seller Indemnified Persons’ Person’s right to recovery in respect of such Claim by offset against the Holdback Consideration or payment in cash, as applicable, pursuant to Section 7.7 will be effective as of the day following the expiration of the Claim Objection Period.

Appears in 1 contract

Samples: Asset Purchase Agreement (Medicine Man Technologies, Inc.)

Objections to Claims; Resolution of Conflicts. (i) The Responding Party will have the right to object to the Claiming Party’s right to be indemnified pursuant to this Section 6.11 6.10 for any Claim made pursuant to Section 7.2(a) by delivering written notice of such objection (each, a “Claim Objection Notice”) to the applicable Claiming Party within ten (10) Business Days following the Responding Party’s receipt of a Claim Notice (such period, the “Claim Objection Period”). The Claim Objection Notice with respect to any Claim will specify in reasonable detail the basis for the Responding Party’s objection to such Claim. In the event that the Responding Party does not object to a Claim within the Claim Objection Period, (A) the Responding Party will be deemed to have accepted and agreed to the Claim set forth in the Claim Notice and (B) the Purchaser Indemnified Persons’ or Seller Indemnified Persons’ right to recovery in respect of such Claim will be effective as of the day following the expiration of the Claim Objection Period.

Appears in 1 contract

Samples: Asset Purchase Agreement (Medicine Man Technologies, Inc.)

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