Common use of Seller’s Rights Clause in Contracts

Seller’s Rights. Anything in this Article 7 to the contrary notwithstanding, (i) if there is a reasonable probability that a Claim may materially and adversely affect the Buyer Indemnified Party other than as a result of money damages or other money payments, the Buyer Indemnified Party shall have the right to defend, compromise or settle such Claim, and (ii) the Seller shall not, without the written consent of the Buyer Indemnified Party, settle or compromise any Claim or consent to the entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Buyer Indemnified Party of a release from all Liability in respect of such Claim.

Appears in 3 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Intersearch Group Inc), Asset Purchase Agreement (Banks.com, Inc.)

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Seller’s Rights. Anything in this Article 7 10 to the contrary notwithstanding, (i) if there is a reasonable probability that a Buyer Claim may materially and adversely affect the Buyer Indemnified Party other than as a result of money damages or other money payments, the Buyer Indemnified Party shall have the right to defend, compromise or settle such Buyer Claim, and (ii) the Seller shall not, without the written consent of the Buyer Indemnified Party, settle or compromise any Buyer Claim or consent to the entry of any judgment which does not include as an unconditional term thereof the giving by the claimant or the plaintiff to the Buyer Indemnified Party of a release from all Liability in respect of such Buyer Claim.

Appears in 1 contract

Samples: Asset Purchase Agreement (Intersearch Group Inc)

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