Individual Threshold definition
Examples of Individual Threshold in a sentence
Subject to Purchaser’s right to dispute the existence of a Title Benefit and the Title Benefit Amount asserted with respect thereto, Seller’s sole and exclusive remedy with respect to any Title Benefit shall be to offset the Title Defect Amounts that exceed the Individual Threshold pursuant to Section 6.1(f), but only to the extent the Title Benefit Amount of any such Title Benefit exceeds the Individual Threshold.
In addition, notice of any casualty, damage, injury or Taking, the restoration of which is estimated by Grantor in good faith to cost more than the Individual Threshold Amount, shall set forth such good faith estimate of the cost of repairing or restoring such casualty, damage, injury or Taking in reasonable detail if the same is then available and, if not, as soon thereafter as it can reasonably be provided.
Purchaser agrees that to the extent that Purchaser discovers any Title Defect that could be brought under the special warranty provided for in the Conveyances prior to the Defect Deadline, Purchaser will assert such Title Defect pursuant to the provisions of this Article VI rather than making a claim for such Title Defect pursuant to such special warranty provided for in the Conveyances, expressly taking into account the Individual Threshold and the Defect Deductible.
For greater certainty, if the Individual Threshold or $2,000,000 Threshold (as applicable) is exceeded, subject to Section 12.5.2, an Indemnified Person shall be entitled to be indemnified for the aggregate amount of all related Damages (starting with the first dollar).
Subject to Section 9.8, any Environmental Loss with respect to which either a Marathon Indemnified Person or an Ashland Indemnified Person would be required to indemnify and hold harmless the Company Indemnified Persons pursuant to Section 9.1(c) or Section 9.2(c), but for the application of the Individual Threshold Amounts or the application of Section 9.8.