Individual Claim Threshold definition
Examples of Individual Claim Threshold in a sentence
In the event of a series of claims based on the same facts, such series of claims shall be treated as a single claim and the aggregate cumulative liability resulting from such series of claims shall be used to determine whether the Individual Claim Threshold has been exceeded.
Buyer shall not be obligated to pay any additional costs or incur any additional obligations in its purchase of the Assets if such costs are the result of Seller’s Like-Kind Exchange, and Seller shall indemnify Buyer Indemnified Parties against any Claims arising from Seller’s Like-Kind Exchange without regard to the Individual Claim Threshold or Aggregate Claim Deductible.
Neither the Threshold Amount, the Purchaser Individual Claim Threshold, the Maximum Amount nor the Higher Representations Amount shall apply to, or otherwise limit the aggregate liability of the Shareholder Indemnifying Parties for, Losses arising out of a breach of any of the representations and warranties in Section 5.28.
Except with respect of Fundamental Representations none of Purchaser or Purchaser Indemnitees shall be entitled to assert any right to indemnification under Section 9.2 with respect to any individual claim unless the Losses resulting from such individual Claim exceeds Three Hundred Thousand Dollars ($300,000) (the “Individual Claim Threshold” and each individual claim that exceeds the Individual Claim Threshold, a “Qualifying Claim”).
For the purposes of the foregoing clause 12.3.1, in the event of a series of relevant claims based on the same or a related set of facts, events or circumstances, such series of claims shall be treated as a single claim and the aggregate total of the Losses resulting from such series of claims shall be used to determine whether the Individual Claim Threshold Amount has been exceeded.