Payment of Indemnification Obligations. Each party agrees to pay promptly to any other indemnified party the amount of all damages, losses, settlement payments, deficiencies, liabilities, costs, expenses, claims and other obligations to which the indemnity set forth in Section 6.1 or 6.2 relates. If all or part of any such obligation is not paid when due, then the indemnifying party shall also pay the indemnified party interest on the unpaid amount of the obligation for each day from the date the amount became due until payment in full, payable on demand, at the fluctuating rate per annum which at all times shall be four percentage points in excess of the "prime rate" identified in The Wall Street Journal as the base rate on corporate loans at large U.S. money center commercial banks.
Appears in 5 contracts
Samples: 2 Agreement and Plan of Merger (Consolidated Capital of North America Inc), Exhibit 1 Agreement and Plan of Merger (Stone Pine Colorado LLC), Agreement for Share Exchange and Plan of Reorganization (Wyoming Oil & Minerals Inc)
