Indemnification Objection Notice definition
Examples of Indemnification Objection Notice in a sentence
Such Indemnification Objection Notice must describe the grounds for such objection in reasonable detail.
Any Claim described in the Indemnification Notice shall be deemed final and binding (hereinafter, a "Permitted Indemnification Claim") if the Indemnifying Party does not object in writing to the propriety of the Claim or the amount of the Loss by delivering a notice of objection to the Indemnified Party (an "Indemnification Objection Notice") within thirty (30) days after receipt of the Indemnification Notice.
The Indemnification Objection Notice shall detail the specific objections of the Indemnifying Party the Claim.
If the parties are unable to resolve the disputed issues concerning the Claim within twenty (20) business days after the date the Indemnified Party received the Indemnification Objection Notice, the disputed issues shall be settled pursuant to Section 8.
The parties shall use reasonable efforts to enable the arbitrator to render its decision no later than sixty (60) days after the submission of the Dispute or Indemnification Objection Notice to the arbitrator.
If the Indemnifying Party contests the propriety of a set-off or indemnification claim described in the Indemnification Notice and/or the amount of Damages alleged to be associated with such claim, then the Indemnifying Party shall deliver to the Indemnitee an Indemnification Objection Notice detailing all specific objections the Indemnitee has with respect to the indemnification claim described in the Indemnification Notice.
If an Indemnification Objection Notice is not delivered by the Indemnifying Party to the Indemnified Party within 30 days after receipt by the Indemnifying Party of the Claim Notice (the “Indemnification Objection Period”), such failure to so object shall be an acknowledgment by the Indemnifying Party that the Indemnified Party is entitled to indemnification under Article VIII for the full amount of the Losses set forth in such Claim Notice.
If the objecting Indemnifying Party and the Indemnitee are unable to resolve the disputed matters described in the Indemnification Objection Notice within fifteen (15) business days after the date the Indemnitee received the Indemnification Objection Notice, the disputed matters will be subject to the dispute resolution procedures set forth in Section 8.05 hereof.
The right of the Indemnitee to indemnification for a Claim shall be deemed to be accepted by the Indemnifying Party (the "Permitted Indemnification Claim") unless, within 30 days after the Indemnifying Party's receipt of the Indemnification Notice, the Indemnifying Party shall notify the Indemnitee in writing that it objects to the right of the Indemnitee to indemnification with respect to the Claim (the "Indemnification Objection Notice").
If the Indemnifying Party contests the propriety of any such claim described in the Indemnification Notice and/or the amount of Damages associated with such claim, then the Indemnifying Party shall deliver to the Indemnitee a written notice detailing with reasonable specificity all objections the Indemnitee has with respect to the claims contained in the Indemnification Notice ("Indemnification Objection Notice").