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

Procedures for Non-Third Party Claims. In the event any Party should have a claim against another Party hereunder which does not involve a Third Party Claim (a “Direct Claim”), the Party making a claim (the “Claiming Party”) shall promptly transmit to such other Party (the “Notified Party”) within thirty (30) days of the Claiming Party’s knowledge or possession of sufficient facts upon which such Direct Claim may be based a written notice (the “Direct Claim Notice,” and together with a Third Party Claim Notice, a “Notice of Claim”) describing in reasonable detail the basis of the Claiming Party’s request for payment under this Agreement. If the Notified Party does not notify (the “Direct Claim Defense Notice”) the Claiming Party in writing within fifteen (15) Business Days from its receipt of the Direct Claim Notice that Notified Party disputes such Direct Claim, the Direct Claim specified in the Direct Claim Notice shall be deemed a liability of Notified Party hereunder. If Notified Party has timely disputed such Direct Claim, as provided above, such dispute shall be resolved by litigation as provided in Sections 11.9 and 11.10 hereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Ebix Inc)

AutoNDA by SimpleDocs

Procedures for Non-Third Party Claims. In the event any Party party seeking indemnification under this Agreement should have a claim against another a Party hereunder which does not involve a Third Party Claim (a “Direct Claim”), the Party party making a the claim (the “Claiming Party”) shall promptly transmit to such other Party from whom or from which indemnification is sought (the “Notified Party”) within thirty (30) days 20 Business Days of the Claiming Party’s knowledge or possession of sufficient facts upon which such Direct Claim may be based a written notice (the “Direct Claim Notice,” and together with a Third Party Claim Notice, a “Notice of Claim”) describing in reasonable detail the basis of the Claiming Party’s request for payment under this Agreement. If the Notified Party does not notify (the “Direct Claim Defense Notice”) the Claiming Party in writing within fifteen (15) 45 Business Days from its receipt of the Direct Claim Notice that Notified Party disputes such Direct Claim, the Direct Claim specified in the Direct Claim Notice shall be deemed a liability of Notified Party hereunder. If Notified Party has shall have timely disputed such Direct Claim, as provided above, such dispute shall be resolved by litigation as provided in Sections Section 11.9 and Section 11.10 hereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Ebix Inc)

Procedures for Non-Third Party Claims. In the event any Party should have a claim against another Party hereunder which does not involve a Third Party Claim (a “Direct Claim”), the Party making a claim (the “Claiming Party”) shall promptly transmit to such other Party (the “Notified Party”) within thirty (30) days 20 Business Days of the Claiming Party’s knowledge Knowledge or possession of sufficient facts upon which such Direct Claim may be based a written notice (the “Direct Claim Notice,” and together with a Third Party Claim Notice, a “Notice of Claim”) describing in reasonable detail the basis of the Claiming Party’s request for payment under this Agreement. If the Notified Party does not notify (the “Direct Claim Defense Notice”) the Claiming Party in writing within fifteen (15) 15 Business Days from its receipt of the Direct Claim Notice that Notified Party disputes such Direct Claim, the Direct Claim specified in the Direct Claim Notice shall be deemed a liability of Notified Party hereunder. If Notified Party has timely disputed such Direct Claim, as provided above, such dispute shall be resolved by litigation as provided in Sections Section 11.9 and Section 11.10 hereof.

Appears in 1 contract

Samples: Stock Purchase Agreement (Ebix Inc)

Procedures for Non-Third Party Claims. In the event any Party should have a claim against another Party hereunder which does not involve a Third Party Claim (a "Direct Claim"), the Party making a claim (the "Claiming Party") shall promptly transmit to such other Party (the "Notified Party") within thirty (30) 30 days of the Claiming Party’s 's knowledge or possession of sufficient facts upon which such Direct Claim may be based a written notice (the "Direct Claim Notice," and together with a Third Party Claim Notice, a "Notice of Claim") describing in reasonable detail the basis of the Claiming Party’s 's request for payment under this Agreement. If the Notified Party does not notify (the "Direct Claim Defense Notice") the Claiming Party in writing within fifteen (15) 15 Business Days from its receipt of the Direct Claim Notice that Notified Party disputes such Direct Claim, the Direct Claim specified in the Direct Claim Notice shall be deemed a liability of Notified Party hereunder. If Notified Party has timely disputed such Direct Claim, as provided above, such dispute shall be resolved by litigation as provided in Sections Section 11.9 and Section 11.10 hereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Ebix Inc)

AutoNDA by SimpleDocs

Procedures for Non-Third Party Claims. In the event any Party should have a claim against another Party hereunder which does not involve a Third Party Claim (a “Direct Claim”), the Party making a claim (the “Claiming Party”) shall promptly transmit to such other Party (the “Notified Party”) within thirty (30) 30 days of the Claiming Party’s knowledge or possession of sufficient facts upon which such Direct Claim may be based a written notice (the “Direct Claim Notice,” and together with a Third Party Claim Notice, a “Notice of Claim”) describing in reasonable detail the basis of the Claiming Party’s request for payment under this Agreement. If the Notified Party does not notify (the “Direct Claim Defense Notice”) the Claiming Party in writing within fifteen (15) 20 Business Days from its receipt of the Direct Claim Notice that Notified Party disputes such Direct Claim, the Direct Claim specified in the Direct Claim Notice shall be deemed a liability of Notified Party hereunder. If Notified Party has timely disputed such Direct Claim, as provided above, such dispute shall be resolved by litigation as provided in Sections Section 11.9 and Section 11.10 hereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Ebix Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.