Acquirer Indemnified Person definition

Acquirer Indemnified Person means any of Acquirer, any Affiliate thereof (including the Company following the Closing), any successor of any of them, or any of their respective officers, directors, employees, stockholders, agents or representatives. As used herein, “Losses” means any and all damages, fines, penalties, deficiencies, losses, diminution in value, liabilities (including settlements and judgments) and expenses (including interest, court costs, reasonable fees and expenses of attorneys, accountants and other experts and other reasonable fees and expenses of litigation or other proceedings or of any claim, default or assessment) and shall include any Losses from Third Party Claims (as defined below). Sellers understands and agrees that its obligations, and each Purchaser Indemnified Person’s rights, under this Section 8.1 with respect to clauses (iii) and (iv) of this Section 8.1 neither shall be conditioned upon nor need be preceded by any breach of or inaccuracy in any representation or warranty of Sellers contained in this Agreement or any of the Ancillary Documents, any facts or circumstances contrary to any such representation or warranty, or any breach of any covenant of Sellers or the Company contained in this Agreement.

Acquirer Indemnified Person has the meaning given such term in Section 8.2.

Acquirer Indemnified Person and “Acquirer Indemnified Persons” have the meanings set forth in Section 9.1(b).

Examples of Acquirer Indemnified Person in a sentence

• If an Acquirer Indemnified Person is entitled to indemnification hereunder, provided the action is also brought against Planet Payment, Planet Payment shall be entitled to assume the defense of any such action or proceeding with counsel reasonably satisfactory to the Acquirer.

• Planet Payment shall not consent to the terms of any compromise or settlement of any action defended by Planet Payment in accordance with the foregoing without the prior written consent of the Acquirer Indemnified Person, which shall not be unreasonably withheld or delayed.

• Any Acquirer Indemnified Person involved in an Infringement Claim for which indemnity is being provided hereunder shall reasonably cooperate with Planet Payment in the defense of such action.

• If any Acquirer Indemnified Person is named in any proceeding involving an Infringement Claim and Planet Payment is not named in that proceeding, Planet Payment and any of its Affiliates may, but shall not be obligated to, seek leave to intervene in the proceeding and Acquirer agrees not to oppose that intervention and, in the event that such leave to intervene is granted, Planet Payment shall be entitled to assume the defense of any such action or proceeding in accordance with this section.

• Notwithstanding anything contained in this Agreement to the contrary, in the event that any future or past royalties or license fees (or other similar fees) are required to be paid to the party alleging the Infringement Claim, they shall be paid in full by Planet Payment, and shall in no way be charged or passed through, directly or indirectly, to Acquirer or to any Acquirer Indemnified Person and shall not be subject to any limitation of liability contained herein.

• Any distribution of Escrow Stock to an Acquirer Indemnified Person shall cause an equal reduction in the number of shares of Escrow Stock held in Escrow on behalf of the Seller.

• In the absence of any changes by the bidder, it will be presumed and required that, materials as described in these specifications, be delivered.

• Any Claim by an Acquirer Indemnified Person which directly results from any misrepresentation or inaccuracy in, or breach of the Promoter Seller Representations or the Business Representations shall first be made against the then remaining portion of the Indemnity Retention Amount before a Claim is made against the Promoter Sellers directly.

• Upon assumption by Planet Payment of such defense, the Acquirer Indemnified Person shall have the right to participate in such action or proceeding and to retain its own counsel but Planet Payment shall not be liable for any legal expenses of other counsel subsequently incurred by the Acquirer * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission.

• Each Notice of Claim shall contain a good faith, non-binding, preliminary estimate of the amount of Loss such Acquirer Indemnified Person claims to have so incurred or suffered (the “Claimed Amount”) and shall describe such indemnifiable event in reasonable detail with reference to the provisions of the Purchase Agreement in respect of which such right of indemnification is claimed.

More Definitions of Acquirer Indemnified Person

Acquirer Indemnified Person has the meaning set forth in Section 8.1(a).