Sellers Indemnity definition
Examples of Sellers Indemnity in a sentence
All claims made pursuant to Section 8.2 hereof with respect to the Seller Title Representations shall in each case be fully reimbursable and are not subject to the Seller's Indemnity Threshold.
Any payment Sellers are obligated to make to Purchaser pursuant to this Section 3.8 shall be paid by Sellers by wire transfer of immediately available funds into an account designated by Purchaser; provided, however, that Purchaser may (but shall not be obligated to) elect, at any time, to withdraw the amount of any such payment from the Sellers' Indemnity Escrow Fund.
This Agreement is binding upon and is for the benefit of the parties hereto and their respective successors and assigns, and for the benefit of and enforceable by the other Persons party to any of the GLG Shareholders Agreement and/or the Sellers' Indemnity Agreement.
INDEMNIFICATION 1 Section 14.1 Seller's Indemnity 1 Section 14.2 Buyer's Indemnity 1 ARTICLE 15.
Any payment Sellers are obligated to make to any Purchaser Indemnified Party pursuant to this Article XI shall be paid from the Sellers' Indemnity Escrow Fund.
On the Closing Date, Purchaser shall pay to the Escrow Agent, in immediately available funds, to the account designated by the Escrow Agent, the Sellers' Indemnity Escrow Amount (which shall be deducted from the Purchase Price) in accordance with the terms of this Agreement and the Indemnity Escrow Agreement.
Section 5.2. Seller's Indemnity ...........................................
The Sellers will, jointly and severally, indemnify the Representative and hold it harmless against any Losses incurred without gross negligence or bad faith on the part of the Representative and arising out of or in connection with the acceptance or administration of his duties under this Agreement and the Non-Oak Sellers Indemnity Escrow Agreement and the Oak Indemnity Escrow Agreement.
Sellers' Indemnity.................................................
Only Notices received by the appropriate party hereto prior to the Expiration Date shall give rise to a Purchaser Indemnity or a Sellers Indemnity under the terms and conditions of Article 6 of this Agreement.