Payment of Indemnification Amounts. Any amount for which ISR claims for indemnification hereunder shall be paid to it within the time specified in the notice requiring indemnification.
Payment of Indemnification Amounts. Amounts payable by the Indemnitor to the Indemnitee in respect of any claims hereunder shall be payable by the Indemnitor as incurred by the Indemnitee.
Payment of Indemnification Amounts. Amounts payable pursuant to Sections 10.1 or 10.2 shall be payable by the Indemnitor as incurred by the Indemnitee, and shall bear interest at the rate of three percent (3.0%) per annum from the date the Losses for which indemnification is sought were incurred by the Indemnitee until the date of payment of indemnification by the Indemnitor.
Payment of Indemnification Amounts. (a) The indemnification obligations of the Seller Group under this Article 7 shall be paid as follows:
(i) first, by the Parent making a claim against the Escrow Amount;
(ii) second, to the extent the Seller Group’s indemnification obligations are not fully satisfied in accordance with clause (i), by the Parent setting off the indemnification amounts of the Seller Group against any payments owed by the Parent to the Company or the Partners, including, without limitation any payments owed to the Partners as employment compensation and any payments owed to the Seller Group under the Facility Lease; and
(iii) third, to the extent the Seller Group’s indemnification obligations are not fully satisfied in accordance with clause (ii), by the Seller Group paying the Parent such amounts in cash in the form of a bank or cashier’s check or in immediately available funds by wire transfer to such bank account or accounts as may be designated by the Parent.
(b) The indemnification obligations of the Parent under this Article 7 shall be paid by the Parent paying such amounts in cash in the form of a bank or cashier’s check or in immediately available funds by wire transfer to such bank account or accounts as may be designated by the Seller Group.
(c) It is the intent of the parties that any amounts paid under this Article 7 shall represent an adjustment of the Purchase Price and the parties will report such payments consistent with such intent.
Payment of Indemnification Amounts. Amounts payable pursuant to Section 8.1 or Section 8.2 shall be payable by the Indemnifying Party as incurred by the Indemnitee, and shall bear interest at the Prime Rate from the date the Losses for which indemnification is sought were incurred by the Indemnitee until the date of payment of indemnification.
Payment of Indemnification Amounts. Amounts payable pursuant to Section 8.1 or Section 8.2 shall be payable by the Indemnifying Party as incurred by the Indemnitee, and shall bear interest at the Prime Rate from the date the Losses for which indemnification is sought were incurred by the Indemnitee until the date of payment of indemnification; provided, however, that any amounts owing from any Seller pursuant to Section 8.1 will made in cash and from the cancellation and retirement of Share Consideration held by the Sellers, in the same proportion as the Cash Amount and the Share Consideration are to the Purchase Price, in an aggregate amount equal to the amount of such outstanding indemnification payment, and thereafter will be made directly by the Sellers in accordance with the terms herein. For purposes of this Section 8.4, the Share Consideration will be valued at an amount equal to the average of the highest and lowest reported sales prices of Buyer’s Common Stock on the OTCQB operated by the OTC Markets Group for the twenty (20) trading days immediately preceding the date on which such indemnification payment becomes due and payable, as reported by Bloomberg Financial L.P., or another authoritative source mutually acceptable to the parties.
Payment of Indemnification Amounts. Amounts determined to be owing ---------------------------------- under Sections 9.1 or 9.2 hereof by an Indemnitor to an Indemnitee in respect of any Third Party Claim shall be payable by the Indemnitor as incurred by the Indemnitee. All other amounts owed under Sections 9.1 or 9.2 by an Indemnitor to an Indemnitee shall be paid upon admission or other final determination of liability under such Sections. All amounts paid pursuant to this Article IX shall be deemed to be an adjustment to the purchase price paid for securities issued pursuant to this Agreement.
Payment of Indemnification Amounts. After any final judgment or award shall have been rendered by an arbitration board or administrative agency or a court of law of competent jurisdiction or similar decision passes into res judicator, or a settlement shall have been consummated, the Loss resulting from such decision, minus any Loss Benefits directly and effectively incurred in connection therewith, will be indemnified by the Indemnifying Party to the Indemnified Party within 5 (five) Business Days from the date the final judgment, arbitration award, or similar decision passes into res judicator, by means of wire transfer to the bank account provided in writing by the Indemnified Party.
Payment of Indemnification Amounts. Each Indemnitor shall pay the indemnification amount claimed by the Indemnitee in immediately available funds promptly within ten (10) days after the Indemnitee provides the Indemnitor with written notice of a Claim hereunder unless the Indemnitor in good faith disputes such Claim. If the Indemnitor disputes such Claim in good faith, then promptly after the resolution of such dispute, the amount finally determined to be due shall be paid by the Indemnitor to the Indemnitee in immediately available funds within ten (10) days of such dispute resolution. In the event the Indemnitor fails to pay the Indemnitee the amount of such indemnification Claim within such ten (10) day period, the Indemnitor shall pay the Indemnitee interest on the amount of such indemnification Claim at a rate of ten percent (10%) per annum, compounded monthly from the date of the original written notice of such indemnification Claim until the indemnification Claim is paid in full. If any Indemnitor fails to comply with its obligations to make cash payments to an Indemnitee in an aggregate amount sufficient to reimburse the Indemnitee for all losses resulting from an indemnified Claim, the Indemnitee may pursue any and all rights and remedies against the Indemnitor available in law or in equity, subject only to the limitations set forth in Section 8.2 above.
Payment of Indemnification Amounts. 44 ARTICLE X - TERMINATION........................................................................ 44
