Common use of Procedure for Claims between Parties Clause in Contracts

Procedure for Claims between Parties. (a) Any Person seeking to be indemnified for Damages pursuant to Section 6.2 (the “Indemnified Party”), other than with respect to a Third-Party Claim, shall, within the Survival Period provided for in Section 6.1 above, if applicable, give to the Person which is obligated pursuant to this Article VI to provide indemnification as set forth herein (the “Indemnitor”) a notice (a “Claim Notice”) describing in reasonable detail the facts giving rise to any claims for indemnification hereunder and shall include in such Claim Notice (if then known) the amount or the method of computation of the amount of such claim, and a reference to the provision of this Agreement or any agreement, certificate or instrument executed pursuant hereto or in connection herewith upon which such claim is based.

Appears in 4 contracts

Samples: Option Agreement (Sorrento Therapeutics, Inc.), Option Agreement (Sorrento Therapeutics, Inc.), Development and Option Agreement (Viropharma Inc)

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Procedure for Claims between Parties. (a) Any Person seeking to be indemnified for Damages pursuant to Section 6.2 7.2 (the “Indemnified PartyIndemnitee”), other than with respect to a Third-Party Claim, shall, within the Survival Period provided for in Section 6.1 7.1 above, if applicable, give to the Person which is obligated pursuant to this Article VI VII to provide indemnification as set forth herein (the “Indemnitor”) a notice (a “Claim Notice”) describing in reasonable detail the facts giving rise to any claims for indemnification hereunder and shall include in such Claim Notice (if then known) the amount or the method of computation of the amount of such claim, and a reference to the provision of this Agreement or any agreement, certificate or instrument executed pursuant hereto or in connection herewith upon which such claim is based.

Appears in 1 contract

Samples: Development and Option Agreement (Viropharma Inc)

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