Common use of Procedure for Non-Third Party Claims Clause in Contracts

Procedure for Non-Third Party Claims. With respect to any claim for indemnification under this Agreement which does not result from a Third Party Claim, the Indemnitor shall have a period of thirty (30) days after receipt of notice from the Indemnitee within which to respond to the Indemnitee. If the Indemnitor does not respond within the thirty (30) day period, the Indemnitor shall be deemed to have accepted responsibility to make payment, and shall have no further right to contest the validity of the claim. If the Indemnitor does respond within the thirty (30) day period and rejects the claim in whole or in part, the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee under applicable law.

Appears in 2 contracts

Samples: Subscription Agreement (Northstar Realty Finance Corp.), Subscription Agreement (Northstar Realty Finance Corp.)

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Procedure for Non-Third Party Claims. With respect to any claim for indemnification under this Agreement hereunder which does not result from a Third Party Claim, the Indemnitor shall have a period of thirty (30) days after receipt of notice from the Indemnitee within which to respond to the Indemnitee. If the Indemnitor does not respond within the thirty (30) day period, the Indemnitor shall be deemed to have accepted responsibility to make payment, payment and shall have no further right to contest the validity of the such claim. If the Indemnitor does respond within the thirty (30) day period and rejects the claim in whole or in part, the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee under applicable law.

Appears in 1 contract

Samples: Purchase Agreement (GOLUB CAPITAL BDC, Inc.)

Procedure for Non-Third Party Claims. With respect to any claim for indemnification under this Agreement Section 7.7 which does not result from a Third Party Claim, the Indemnitor shall have a period of thirty (30) days after receipt of notice from the Indemnitee within which to respond to the Indemnitee. If the Indemnitor does not respond within the such thirty (30) day period, the Indemnitor shall be deemed to have accepted responsibility to make payment, payment and shall have no further right to contest the validity of the such claim. If the Indemnitor does respond within the thirty (30) day period and rejects the claim in whole or in part, the Indemnitee shall be free to pursue all such remedies as may be available to the Indemnitee under this Agreement or applicable law.

Appears in 1 contract

Samples: Asset Purchase Agreement (Intervest Bancshares Corp)

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Procedure for Non-Third Party Claims. With respect to any claim for indemnification under this Agreement hereunder which does not result from a Third Party Claim, the Indemnitor shall have a period of thirty (30) days after receipt of notice from the Indemnitee within which to respond to the Indemnitee. If the Indemnitor does not respond within the thirty (30) day period, the Indemnitor shall be deemed to have accepted responsibility to make payment, payment and shall have no further right to contest the validity of the such claim. If the Indemnitor does respond within the thirty (30) day period and rejects the claim in whole or in part, the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee under this Purchase Agreement or applicable law.

Appears in 1 contract

Samples: Purchase Agreement (Greenhill & Co Inc)

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