Maximum Indemnity Amount definition

Maximum Indemnity Amount is defined in Section 8.4.

Maximum Indemnity Amount shall have the meaning given in Section 9.4.

Maximum Indemnity Amount means: (i) TWO MILLION DOLLARS ($2,000,000.00) during the first year immediately following the Closing Date, (ii) ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00) during the calendar year immediately following the first anniversary of the Closing Date, (iii) ONE MILLION 10370946.3 29 DOLLARS ($1,000,000.00) during the calendar year immediately following the second anniversary of the Closing Date, and (iv) FIVE HUNDRED THOUSAND DOLLARS ($500,000.00) during the six month period immediately following the third anniversary of the Closing Date (provided, however, during such six month period under clause (iv), OWNERS’ Surviving Liabilities (as defined in Section 9.04(a) herein) shall be limited to indemnity obligations of Sellers relating to any settlement, adjustment, disallowance, overpayment, set off against future payments or reimbursement, or recoupment arising from any cost report filed with any government healthcare program for any period ending on or before the Closing Date, including any such cost report filed after the Closing Date for prior periods, and any demand for return of any payments made in any period before the Closing Date by any government healthcare program, whether by the government healthcare program or a contractor acting on behalf of a government healthcare program).

Examples of Maximum Indemnity Amount in a sentence

• If Seller elects to control the defense, it will not compromise or settle the Action or Buyer Claim if (X) the amount to be paid in settlement exceeds the Maximum Indemnity Amount or (Y) the settlement does not include a provision releasing the Buyer Indemnified Party from all liabilities with respect thereto.

• The Principal shall not be liable or obligated to make payments under this Agreement in excess of the Maximum Indemnity Amount (as defined herein).

• Notwithstanding the foregoing, (w) Buyer’s obligation pursuant to Seller’s Security in Section 7.2, (x) each Party’s obligation pursuant to Sections 8.2(a)(i) and 8.3(a)(i), respectively, with respect to breach of any Fundamental Representation, (y) Seller’s (i) obligation pursuant to Section 8.2(a)(iii) and (ii) the covenant set forth in Section 5.10, and (z) each Party’s obligations pursuant to Section 11.2, (collectively, “(w)-(z)”), shall not be subject to the Basket or the Maximum Indemnity Amount.

• Notwithstanding anything to the contrary contained elsewhere herein, OWNERS’ Surviving Liabilities (as defined in Section 9.04(a) herein) shall not under any circumstances exceed the Maximum Indemnity Amount and Purchasers and NEW OPERATORS shall look solely to the Escrow Holdback Deposit for payment of such indemnity claims.

• If Seller elects to control the defense, it will not compromise or settle the Action or Buyer Claim if (x) the amount to be paid in settlement, when aggregated with other Buyer Claims, exceeds the Maximum Indemnity Amount, as defined below, or (y) the settlement does not include a provision releasing Buyer Indemnified Party from all liabilities with respect thereto.

More Definitions of Maximum Indemnity Amount

Maximum Indemnity Amount for any calendar year shall mean the product of the Program Size and 20 basis points.

Maximum Indemnity Amount has the meaning set forth in Section 8.4.

Maximum Indemnity Amount means Ten Million Dollars ($10,000,000.00).

Maximum Indemnity Amount means ten percent (10%) of the aggregate value of the consideration paid by the Acquirer for the Contributed Interests (for purposes of such calculation, units of limited partnership interest in the Operating Partnership, REIT Shares and shares of Class B Stock shall have a value per share or unit equal to the IPO Price)

Maximum Indemnity Amount shall have the meaning ascribed to such term in Section 10.02(c). "New ICO LP" shall have the meaning ascribed to such term in Section 5.10.

Maximum Indemnity Amount for any calendar year means $1,000,000.

Maximum Indemnity Amount means an amount equal to 50,000,000.