Common use of Procedures for Direct Claims Clause in Contracts

Procedures for Direct Claims. (a) The Indemnifying Party shall have 30 days after its receipt of a Claim Notice with respect to a claim for indemnification against the Buyer or the Seller, respectively, hereunder that are not based upon Third-Party Claims (such Claims, “Direct Claims”) to respond in writing to such Direct Claim. If the Indemnifying Party does not so respond within such 30-day period, the Indemnifying Party shall be deemed to have rejected such Direct Claim, in which case the Indemnified Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms and subject to the provisions of this Agreement.

Procedures for Direct Claims. (a) Any Direct Claim shall be asserted by giving the Indemnifier reasonably prompt written notice thereof, but in any event not later than 60 days after the Indemnified Party becomes aware of the facts and circumstances that would give rise to such Direct Claim. The Indemnifying Party Indemnifier shall then have a period of 30 days after its receipt of a Claim Notice with respect to a claim for indemnification against the Buyer or the Seller, respectively, hereunder that are not based upon Third-Party Claims (such Claims, “Direct Claims”) within which to respond in writing to such Direct Claim. If the Indemnifying Party Indemnifier does not so respond within such 30-day period, the Indemnifying Party Indemnifier shall be deemed to have rejected such Direct Claim, and in which case such event the Indemnified Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms and subject to the provisions of this AgreementParty.

Procedures for Direct Claims. Any Direct Claim shall be asserted by giving the Indemnifier reasonably prompt written notice thereof, but in any event not later than sixty (a60) The Indemnifying Party shall have 30 days after its receipt the Indemnified Party becomes aware of the facts and circumstances that would give rise to such Direct Claim. The Indemnifier shall then have a Claim Notice with respect to a claim for indemnification against the Buyer or the Seller, respectively, hereunder that are not based upon Third-Party Claims period of thirty (such Claims, “Direct Claims”30) days within which to respond in writing to such Direct Claim. If the Indemnifying Party Indemnifier does not so respond within such 30-day period, the Indemnifying Party Indemnifier shall be deemed to have rejected such Direct Claim, and in which case such event the Indemnified Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms and subject to the provisions of this AgreementParty.