Maximum Liability Amount. Notwithstanding anything to the contrary contained in this Agreement, if the Subsequent Closing of the transactions hereunder shall have occurred: (i) the Contributor shall have no liability (and the Partnership shall make no claim against the Contributor) for a breach of any representation or warranty or any other obligation of the Contributor or for indemnification under this Agreement or any document executed by the Contributor in connection with this Agreement which relates in any manner to the transactions contemplated hereby unless and only to the extent the valid claims for all such breaches and indemnifications collectively aggregate to more than Ten Thousand Dollars ($10,000.00) (the “Basket”) and the liability of the Contributor under this Agreement and such other documents delivered in connection with the transactions contemplated hereby shall in no event exceed (except as provided below), in the aggregate, an amount equal to One Hundred Thousand Dollars ($100,000.00) (the “Cap”); and (iii) in no event shall the Contributor be liable for any consequential or punitive damages.
Appears in 1 contract
Sources: Interest Contribution Agreement (Landmark Apartment Trust of America, Inc.)
Maximum Liability Amount. Notwithstanding anything to the contrary contained in this Agreement, if the Subsequent Closing of the transactions hereunder shall have occurred: (i) the Contributor shall have no liability (and the Partnership shall make no claim against the Contributor) for a breach of any representation or warranty or any other obligation of the Contributor or for indemnification under this Agreement or any document executed by the Contributor in connection with this Agreement which relates in any manner to the transactions contemplated hereby unless and only to the extent the valid claims for all such breaches and indemnifications collectively aggregate to more than Ten Thousand Dollars ($10,000.00) (the “Basket”) and the liability of the Contributor under this Agreement and such other documents delivered in connection with the transactions contemplated hereby shall in no event exceed (except as provided below), in the aggregate, an amount equal to One Hundred Thousand Dollars ($100,000.00) (the “Cap”); and (iii) in no event shall the Contributor be liable for any consequential or punitive damages.
Appears in 1 contract
Sources: Interest Contribution Agreement (Landmark Apartment Trust of America, Inc.)
Maximum Liability Amount. Notwithstanding anything to the contrary contained in this Agreement, if the Subsequent Closing of the transactions hereunder shall have occurred: (i) the Contributor Contributors shall have no liability (and the Partnership shall make no claim against the ContributorContributors) for a breach of any representation or warranty or any other obligation of the Contributor Contributors or for indemnification under this Agreement or any document executed by the Contributor Contributors in connection with this Agreement which relates in any manner to the transactions contemplated hereby unless and only to the extent the valid claims for all such breaches and indemnifications collectively aggregate to more than Ten Thousand Dollars ($10,000.00) (the “Basket”) and the liability of the Contributor Contributors under this Agreement and such other documents delivered in connection with the transactions contemplated hereby shall in no event exceed (except as provided below), in the aggregate, an amount equal to One Hundred Thousand Dollars ($100,000.00) (the “Cap”); and (iii) in no event shall the Contributor Contributors be liable for any consequential or punitive damages.
Appears in 1 contract
Sources: Interest Contribution Agreement (Landmark Apartment Trust of America, Inc.)