Common use of Procedures for Direct Claims Clause in Contracts

Procedures for Direct Claims. Any claim for which an Indemnitee intends to assert a right to indemnifiable Damages under this Agreement that does not result from a Third-Party Claim (a "Direct Claim") shall be asserted by giving each Indemnifying Party reasonably prompt written notice thereof setting forth with specificity the nature and amount of the Direct Claim, and the Section(s) of the Agreement pursuant to which such Direct Claim is made, and each Indemnifying Party shall have a period of thirty (30) calendar days within which to respond to such Direct Claim. If any Indemnifying Party does not so respond within such thirty (30) calendar day period, such Indemnifying Party shall be deemed to have rejected such claim, in which event the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee pursuant to this Agreement. A failure to give timely notice as provided in this Section 8.4 shall not affect the rights or obligations of any party hereunder except and only to the extent that, as a result of such failure, any party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance coverage, incurred an obligation or liability which otherwise would have been avoided, or was otherwise actually prejudiced.

Appears in 1 contract

Samples: Stock Purchase Agreement (Medical Device Manufacturing, Inc.)

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Procedures for Direct Claims. Any claim for which an Indemnitee intends to assert a right to indemnifiable Damages under this Agreement that which does not result from a Third-Party Claim (a "Direct Claim") shall be asserted by giving each Indemnifying Party reasonably prompt written notice thereof setting forth with specificity the nature and amount of the Direct Claim, and the Section(s) of the Agreement pursuant to which such Direct Claim is madethereof, and each Indemnifying Party shall have a period of thirty forty-five (3045) calendar days within which to respond to such Direct Claim. If any Indemnifying Party does not so respond within such thirty forty-five (3045) calendar day period, such Indemnifying Party shall be deemed to have rejected such claim, in which event the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee pursuant to this Agreement. A failure to give timely notice as provided in this Section 8.4 11.4 shall not affect the rights or obligations of any party hereunder except and only to the extent that, as a result of such failure, any party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance coverage, incurred an obligation or liability which otherwise would have been avoided, or was otherwise actually prejudiced.

Appears in 1 contract

Samples: Merger Agreement (Uti Corp)

Procedures for Direct Claims. Any claim for which an Indemnitee intends to assert a right to indemnifiable Damages under this Agreement that which does not result from a Third-Third Party Claim (a "Direct Claim") shall be asserted by giving each Indemnifying Party reasonably prompt written notice thereof setting forth with specificity the nature and amount of the Direct Claim, and the Section(s) of the Agreement pursuant to which such Direct Claim is madethereof, and each Indemnifying Party shall have a period of thirty (30) 45 calendar days from the receipt thereof within which to respond to such Direct Claim. If any Indemnifying Party does not so respond within such thirty (30) 45 calendar day period, such Indemnifying Party shall be deemed to have rejected such claim, in which event the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee pursuant to this Agreement. A failure to give timely notice as provided in this Section 8.4 11.4 shall not affect the rights or obligations of any party hereunder except and only to the extent that, as a result of such failure, any party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance coverage, incurred an obligation or liability which otherwise would have been avoided, or was otherwise actually prejudiced.. Notwithstanding

Appears in 1 contract

Samples: Share Purchase Agreement (Uti Corp)

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Procedures for Direct Claims. Any claim for which an Indemnitee intends to assert a right to indemnifiable Damages under this Agreement that which does not result from a Third-Party Claim (a "Direct Claim") shall be asserted by giving each Indemnifying Party reasonably prompt written notice thereof setting forth with specificity the nature and amount of the Direct Claim, and the Section(s) of the Agreement pursuant to which such Direct Claim is madethereof, and each Indemnifying Party shall have a period of thirty forty-five (3045) calendar days from the receipt thereof within which to respond to such Direct Claim. If any Indemnifying Party does not so respond within such thirty forty-five (3045) calendar day period, such Indemnifying Party shall be deemed to have rejected such claim, in which event the Indemnitee shall be free to pursue such remedies as may be available to the Indemnitee pursuant to this Agreement. A failure to give timely notice as provided in this Section 8.4 11.4 shall not affect the rights or obligations of any party hereunder except and only to the extent that, as a result of such failure, any party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance coverage, incurred an obligation or liability which otherwise would have been avoided, or was otherwise actually prejudiced.

Appears in 1 contract

Samples: Share Purchase Agreement (Uti Corp)

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