Common use of Limitations on Indemnification for Breaches of Representations and Warranties Clause in Contracts

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.7, 3.10 and 3.15 hereof, exceeds $5,000 (the “Basket”) and, in such event, the Indemnifying Party shall be required to pay the entire amount of such Losses and Expenses.

Appears in 2 contracts

Sources: Share Exchange Agreement (Armitage Mining Corp), Share Exchange Agreement (Armitage Mining Corp)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.7, 3.10 and 3.15 hereof, exceeds $5,000 (the "Basket") and, in such event, the Indemnifying Party shall be required to pay the entire amount of such Losses and Expenses.

Appears in 2 contracts

Sources: Share Exchange Agreement (Synerteck Inc), Share Exchange Agreement (Bongiovi Entertainment Inc)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.7, 3.10 3.6 and 3.15 3.8 hereof, exceeds $5,000 (the “Basket”) and, in such event, the Indemnifying Party shall be required to pay the entire amount of such Losses and Expenses.

Appears in 2 contracts

Sources: Share Exchange Agreement (Havana Furnishings Inc.), Share Exchange Agreement (CornerWorld Corp)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party indemnifying party shall not have any liability under Section 9.1(a)(ii9.1(a) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.7, 3.10 and 3.15 or any breach hereof, exceeds $5,000 150,000 (the “Basket”) and, in such event, the Indemnifying Party indemnifying party shall be required to pay the entire amount of such Losses and ExpensesExpenses in excess of $25,000 (the “Deductible”), up to a maximum of $1,000,000.

Appears in 1 contract

Sources: Securities Purchase Agreement (Axcess Medical Imaging Corp)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party indemnifying party shall not have any liability under Section 9.1(a)(ii8.1(a)(ii) or Section 9.1(b8.1(b)(ii) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than without regard to any materiality qualifiers contained in the representations and warranties set forth in Sections 3.7, 3.10 and 3.15 hereofwarranties, exceeds $5,000 $ 25,000 (the "Basket") and, in such event, the Indemnifying indemnifying Party shall be required to pay the entire amount of all such Losses and Expensesincluding those used to compute the Basket.

Appears in 1 contract

Sources: Stock Purchase Agreement (Mint Leasing Inc)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party indemnifying party shall not have any liability under Section 9.1(a)(ii8.1(a)(ii) or Section 9.1(b8.1(b)(i) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.7, 3.7 or 3.10 and 3.15 hereof, exceeds $5,000 15,000 (the "Basket") and, in such event, the Indemnifying Party indemnifying party shall be required to pay the entire amount of such Losses and ExpensesExpenses in excess of $15,000 (the "Deductible").

Appears in 1 contract

Sources: Agreement and Plan of Amalgamation (Thomas Equipment, Inc.)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.7, 3.10 3.6 and 3.15 3.8 hereof, exceeds $5,000 (the “Basket”) and, in such event, the Indemnifying Party shall be required to pay the entire amount of such Losses and Expenses.. Share Exchange Agreement 9.3

Appears in 1 contract

Sources: Share Exchange Agreement (Scoop Media, Inc.)

Limitations on Indemnification for Breaches of Representations and Warranties. An Indemnifying Party indemnifying party shall not have any liability under Section 9.1(a)(ii) or Section 9.1(b9.1(b)(i) hereof unless the aggregate amount of Losses and Expenses to the indemnified parties finally determined to that arise thereunder based upon, attributable to or resulting from the failure of any representation or warranty to be true and correct, other than the representations and warranties set forth in Sections 3.74.3, 3.10 4.11, 4.24 and 3.15 4.29 hereof, exceeds $5,000 (the “Basket”) and, in such event, the Indemnifying Party indemnifying party shall be required to pay the entire amount of such Losses and ExpensesExpenses in excess of $5,000 (the “Deductible”).

Appears in 1 contract

Sources: Stock Purchase Agreement (Zulu Energy Corp.)