Limitations on Warranty Claims. Notwithstanding anything to the contrary in Sections 8.3(a) and (b), above, Indemnitor shall not be obligated to indemnify Indemnitee for any Damages caused by or arising out of, and Indemnitee shall not be entitled to make any claim for Damages due to, any breach of warranty or inaccurate or erroneous representation made by Indemnitor herein (other than representations and warranties with respect to Computec Taxes and ownership of the Computec Stock), in any agreement contemplated hereby, or in any Schedule or Exhibit hereto or thereto, or in any certificate or other instrument delivered or to be delivered by or on behalf of Indemnitor pursuant hereto or thereto (collectively, "Warranty Claims"), unless and until the amount of all of such Indemnitee's claims for Damages caused by or arising out of Warranty Claims, in the aggregate, shall be equal to $200,000, in which case Indemnitee shall be entitled to recover all Damages incurred by Indemnitee in excess of $200,000; provided, however, that if the amount of all of such Indemnitee's claims for Damages caused by or arising out of Warranty Claims, in the aggregate, shall be equal to or exceed 36 42 $250,000, then Indemnitee shall be entitled to recover all Damages incurred by Indemnitee, including such initial $250,000 in Damages.
Appears in 2 contracts
Sources: Merger Agreement (Data Processing Resources Corp), Merger Agreement (Lancashire Christopher W)
Limitations on Warranty Claims. Notwithstanding anything to the ------------------------------ contrary in Sections 8.3(a7.2(a) and (b), above, the parties agree that Indemnitor shall not be obligated to indemnify Indemnitee for any Damages caused by or arising out of, and Indemnitee shall not be entitled to make any claim for Damages due to, any breach of warranty or inaccurate or erroneous representation made by Indemnitor herein (other than representations and warranties with respect to Computec Taxes and ownership of the Computec StockPurchased Assets and Tax matters), in any agreement contemplated hereby, or in any Schedule or Exhibit hereto or thereto, or in any certificate or other instrument delivered or to be delivered by or on behalf of Indemnitor pursuant hereto or thereto (collectively, "Warranty Claims"), unless and until the amount of all of such Indemnitee's claims for --------------- Damages caused by or arising out of Warranty Claims, in the aggregate, shall be equal to $200,000100,000, in which case Indemnitee shall be entitled to recover indemnify Indemnitor for all Damages then sustained or incurred by Indemnitee in excess of $200,000; provided, however, that if the amount of all of such Indemnitee's claims for Damages caused by or arising out of Warranty Claims, in the aggregate, shall be equal to or exceed 36 42 $250,000, then Indemnitee shall be entitled to recover all Damages incurred by Indemnitee, Indemnitor including such initial $250,000 100,000 in Damages. The rights of indemnification under this Article 7 shall be the sole remedy of the parties with respect to any breach of a warranty set forth in this Agreement or any Ancillary Agreement.
Appears in 1 contract
Sources: Agreement of Purchase and Sale of Assets (Data Processing Resources Corp)