Common use of Reporting Violations and Reimbursement Clause in Contracts

Reporting Violations and Reimbursement. Buyer shall immediately notify the Seller of any violation of Section 17.1(A) or of the occurrence of any event prior to the Effective Date which, if it had occurred after the Effective Date, would constitute a violation of Section 17.1(A). In addition to any other remedies to which Seller may be legally entitled, and notwithstanding Termination pursuant to Section 17.1(C), Buyer shall reimburse or issue a credit to Seller equal to the value of the benefit received by or given to the director, employee or agent of Seller or any Seller Party as a consequence of that violation or event.

Appears in 4 contracts

Samples: Asset Sale and Purchase Agreement, Asset Sale and Purchase Agreement, Asset Sale and Purchase Agreement (Tesoro Logistics Lp)

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