Common use of Satisfaction of Indemnification Obligations Clause in Contracts

Satisfaction of Indemnification Obligations. In order to satisfy the ------------------------------------------- indemnification obligations set forth in Section 7.1 above, a Buyer Indemnified Party shall have the right (in addition to collecting directly from the Seller and the Founders) to set off its indemnification claims against the Contingent Payments (whether or not then due and payable) by depositing the amount of such claims in an interest bearing escrow account with a mutually agreed third party until a final determination is made with respect to the merit of such indemnification claims pursuant to Section 8.11.

Appears in 1 contract

Samples: Asset Purchase Agreement (Boron Lepore & Associates Inc)

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Satisfaction of Indemnification Obligations. In order to satisfy the ------------------------------------------- indemnification obligations set forth in Section 7.1 above, a Buyer Indemnified Party shall have the right (in addition to collecting directly from the Seller and the FoundersSellers) to set off its indemnification claims proceed directly against the Contingent Payments (whether or not then due and payable) by depositing Escrow Amount as further set forth in the amount of such claims in an interest bearing escrow account with a mutually agreed third party until a final determination is made with respect to the merit of such indemnification claims pursuant to Section 8.11Escrow Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Natrol Inc)

Satisfaction of Indemnification Obligations. In order to satisfy the ------------------------------------------- indemnification obligations set forth in Section 7.1 above, a Buyer Indemnified Party shall have the right (in addition to collecting directly from the Seller and the Foundersand/or Stockholders) to set off its indemnification claims against any and all amounts under the Contingent Payments Payment (whether or not then due and payable) by depositing and the amount of such claims in an interest bearing escrow account with a mutually agreed third party until a final determination is made with respect to the merit of such indemnification claims amounts payable pursuant to Section 8.115.1.

Appears in 1 contract

Samples: Asset Purchase Agreement (Boron Lepore & Associates Inc)

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Satisfaction of Indemnification Obligations. In order to satisfy ------------------------------------------- the ------------------------------------------- indemnification obligations set forth in Section 7.1 above, a Buyer Indemnified Party shall have the right (in addition to collecting directly from the Seller Sellers and the FoundersStockholder) to set off its indemnification claims against any and all amounts due under the Contingent Payments and the Employment Agreement of Stockholder (whether or not then due and payable) by depositing the amount of such claims in an interest bearing escrow account with a mutually agreed third party until a final determination is made with respect to the merit of such indemnification claims pursuant to Section 8.11).

Appears in 1 contract

Samples: Asset Purchase Agreement (Boron Lepore & Associates Inc)

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