Common use of Third Party Claim Procedures Clause in Contracts

Third Party Claim Procedures. (a) Each Indemnified Party agrees to give prompt notice in writing to the Sellers of the assertion of any claim or the commencement of any suit, action or proceeding by any third party (“Third Party Claim”) in respect of which indemnity may be sought under such section. Such notice shall set forth in reasonable detail such Third Party Claim and the basis for indemnification (taking into account the information then available to the Indemnified Party). The failure to so notify the Sellers shall not relieve the Sellers of their obligations hereunder, except to the extent such failure shall have adversely prejudiced the Sellers.

Third Party Claim Procedures. (a) Each Indemnified Party The Purchaser agrees to give prompt notice in writing to the Sellers Seller of the assertion of any claim or the commencement of any suit, action or proceeding by any third party (“Third Party Claim”) in respect of which indemnity may be sought under such sectionSection 8.2. Such notice shall set forth in reasonable detail such Third Party Claim and the basis for indemnification (taking into account the information then available to the Indemnified PartyPurchaser). The failure to so notify the Sellers Seller shall not relieve the Sellers Seller of their its obligations hereunder, except to the extent such failure shall have materially and adversely prejudiced the SellersSeller.