Examples of Initial Claim Notice in a sentence
To elect to conduct such Defense, the Indemnifying Party must give written notice of such election to the Claiming Party within 10 days (or within the shorter period, if any, during which a Defense must be commenced for the preservation of rights) after the Claiming Party gives the corresponding Initial Claim Notice to the Indemnifying Party (otherwise, such right to conduct such Defense will be deemed waived).
In addition, each Initial Claim Notice shall name, when known, the person or persons making the assertions which are the basis for such claim.
Each Initial Claim Notice shall name, when known, the person or persons making the assertions which are the basis for such claim.
When a party becomes aware of a situation which may result in Damages for which it would be entitled to be indemnified hereunder, such party (the "Indemnitee") shall submit a written notice (the "Initial Claim Notice") to the other party (the "Indemnitor") to such effect with reasonable promptness after it first becomes aware of such matter and shall furnish the Indemnitor with such information as it has available demonstrating its right or possible right to receive indemnity.
Unless the parties shall agree to a different location, the arbitration shall occur in the city in which the Executive is performing his services under this Agreement at the date the Initial Claim Notice is delivered (except that if the dispute relates to a claim related to the relocation of the Executive’s principal place of employment, the arbitration will take place in the city where he was performing his services prior to such relocation).
Failure by the Indemnitee to deliver an Initial Claim Notice or an update thereof in a timely manner or otherwise in the manner described herein shall not relieve the Indemnitor of any of its obligations under this Agreement except to the extent that the Indemnitor can demonstrate actual monetary prejudice resulting from such delay.
If the potential claim is predicated on, or later results in, the filing by a third party of any action at law or in equity (a "Third Party Claim"), the Indemnitee shall provide the Indemnitor with a supplemental Initial Claim Notice not later than ten (10) days prior to the date on which a responsive pleading must be filed, and shall also furnish a copy of such claim (if made in writing) and of all documents received from the third party in support of such claim.
Failure by the Indemnitee to deliver an Initial Claim Notice or an update thereof in a timely manner shall not relieve the Indemnitor of any of its obligations under this Agreement except to the extent that actual monetary prejudice to the Indemnitor can be demonstrated.
The Executive shall not be entitled to be reimbursed for any additional legal fees incurred during the 10 business day period following delivery of the Initial Claim Notice (the “Evaluation Period”), during which time the Company shall have the opportunity to evaluate the claim and consider its merits.
To elect to conduct such Defense, the Indemnifying Party must give written notice of such election to the Claiming Party within 10 days (or within the shorter period, if any, during which a Defense must be commenced for the preservation of rights) after the Claiming Party gives the corresponding Initial Claim Notice to the Indemnifying Party.