Examples of Seller Indemnifiable Claims in a sentence
Subject to Article 10.7, the Purchaser shall deposit an amount equal to the Escrow Amount into the Escrow Account as security for any Seller Indemnifiable Claims in accordance with the Escrow Agreement.
On the first anniversary of the Closing Date (the “First Escrow Release Date”), the Purchaser shall release and pay 50% of the Escrow Amount by wire transfer of immediately available funds to the Seller Bank Account, less the aggregate amount, if any, of amounts previously deducted from the Escrow Amount by the Purchaser in accordance with this Agreement to satisfy any Seller Indemnifiable Claims.
The Purchaser shall utilize or exhaust in full the Escrow Amount before proceeding against the Seller with respect to any Seller Indemnifiable Claims.
On the second anniversary of the Closing Date, the Purchaser shall release and pay 50% of the Escrow Amount by wire transfer of immediately available funds to the Seller Bank Account, less the aggregate amount, if any, of amounts previously deducted from the Escrow Amount by the Purchaser in accordance with this Agreement to satisfy any Seller Indemnifiable Claims from the First Escrow Release Date.
Notwithstanding the foregoing, none of the limitations on indemnification set forth in this Section 11.4(a) will apply to (i) Sellers' or Nextera's breach of representations made in Section 5.1, 5.2, 5.6, 5.11, 5.12, 5.14, 5.16, 6.1, 6.2, 6.3, 6.4 and 8.7 (ii) any Seller Indemnifiable Claims by Buyer pursuant to Section 11.2(a)(B), 11.2(a)(C) or 11.2(a)(D) or (iii) any Buyer Indemnifiable Claims by Seller pursuant to Section 11.3(a)(B) or 11.3(a)(C).
The aggregate amount payable by Seller and the Shareholders pursuant to Section 5.2 with respect to any other Losses incurred by Buyer Indemnitees in regard to Seller Indemnifiable Claims shall not exceed $8,150,000 (the “Cap”).
The indemnification provided for herein shall be the sole and exclusive remedy for any Purchaser Indemnifiable Claims or Seller Indemnifiable Claims, as applicable.
Notwithstanding the provisions of Section 8.2(b), Purchaser shall have no obligation to indemnify any Seller Indemnified Party under this Article 8 unless the Seller Indemnified Parties shall have suffered Damages in an aggregate amount attributable to Seller Indemnifiable Claims in excess of the Threshold.
The Strategy is implemented according to a Synthetic Replication Policy, through the conclusion of OTC Derivatives (including TRS).
The indemnification obligation contained in this Section 9.2 shall be Seller's sole and exclusive remedy against Acquirers for any Seller Indemnifiable Claims.