Common use of Basket and Cap Clause in Contracts

Basket and Cap. An Indemnified Party shall have no right to indemnification unless and until the aggregate of all claims of the Indemnified Party pursuant to this Agreement and the Other Agreements exceeds $ _________Agreement exceeds One Hundred Thousand Dollars ($100,000) above any applicable insurance coverage and further an Indemnifying Party's liability for indemnification pursuant to this Agreement and the other AgreementsOther Agreement shall in no event exceed $________ million.$3 million above any applicable insurance coverage. The foregoing limitations on liability shall not apply, however, to (a) Third Party claims arising in connection with homes delivered by ▇▇▇▇▇▇▇ prior to Effective Date including any product liability or warranty claims in connection therewith or (b) payment of the balance of the Purchase Price pursuant to section 2(h). The foregoing shall not limit the amount which may be recoverable pursuant to applicable insurance coverage.