Satisfaction of Indemnification Claim. In the event either party had any liability (for indemnification or otherwise) to the other party under this Section 8, the indemnifying party shall satisfy such liability first, by delivering to such Indemnitee the number of shares of PROVIDENCE determined by dividing (a) the aggregate dollar amount of such liability by (b) the average closing price of PROVIDENCE as reported for the ten trading days preceding the date such liability is satisfied, and second, to the extent shares of PROVIDENCE are not available to satisfy in full such liability, then such difference in cash.
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Samples: Merger Agreement (Providence Capital I Inc), Merger Agreement (United American Companies Inc), Merger Agreement (Lifelong Com Inc)
Satisfaction of Indemnification Claim. In the event either party had any liability (for indemnification or otherwise) to the other party under this Section 8, the indemnifying party shall satisfy such liability first, by delivering to such Indemnitee the number of shares Shares of PROVIDENCE determined by dividing (a) the aggregate dollar amount of such liability by (b) the average closing price of PROVIDENCE as reported for the ten trading days preceding the date such liability is satisfied, and second, to the extent shares Shares of PROVIDENCE are not available to satisfy in full such liability, then such difference shall be paid in cash.
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