Common use of Claim Response Clause in Contracts

Claim Response. Within twenty (20) days after receipt of a Notice of Claim, the Indemnifying Parties shall give written notice to the Indemnified Party as to whether they object to or acquiesces in the claim, in whole or in part (the "Claim Response"). If the Indemnifying Parties acquiesces to the claim, in whole or in part, they shall state their acquiescence, or the extent thereof, in the Claim Response and shall pay the claim in whole, or that part to which they acquiesce, within such twenty (20) day period. If the Indemnifying Parties objects to the claim, in whole or in part, within such twenty (20) day period, their Claim Response shall set forth with reasonable particularity the grounds, amount of, and basis upon which the claim is disputed. If the Indemnifying Parties fail to object to the claim, in whole or in part, within twenty (20) days after receipt of the Notice of Claim, they shall pay the same in whole, or that portion of the claim to which they failed to object, within ten (10) days after the expiration of such twenty (20) day period.

Claim Response. Within twenty (20) days after receipt of a Notice -------------- of Claim, the Indemnifying Parties Party shall give written notice to the Indemnified Party as to whether they object it objects to or acquiesces in the claim, in whole or in part (the "Claim Response"). If the Indemnifying Parties Party acquiesces to the claim, in whole or in part, they it shall state their its acquiescence, or the extent thereof, in the Claim Response and shall pay the claim in whole, or that part to which they acquiesceit acquiesces, within such twenty (20) day period. If the Indemnifying Parties Party objects to the claim, in whole or in part, within such twenty (20) day period, their its Claim Response shall set forth with reasonable particularity the grounds, amount of, and basis upon which the claim is disputed. If the Indemnifying Parties fail Party fails to object to the claim, in whole or in part, within twenty (20) days after receipt of the Notice of Claim, they it shall pay the same in whole, or that portion of the claim to which they it failed to object, within ten (10) days after the expiration of such twenty (20) day period.