Basket Amount. No indemnification shall be paid by any Party ("Indemnifying Party") to the other Party ("Indemnified Party") pursuant to Subsections 7(b) and 7(c) unless the aggregate Adverse Consequences incurred by the Indemnified Party exceeds Fifteen Thousand Dollars ($15,000) (the "Basket"), and then the Indemnifying Party's indemnification will apply to the excess over the Basket up to any and all indemnification limits provided in this Agreement.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Cumulus Media Inc), Asset Purchase Agreement (Cumulus Media Inc)