Common use of Method of Asserting Claims, Etc Clause in Contracts

Method of Asserting Claims, Etc. The Parties hereby acknowledge and agree that, in the event that any of the applicable parties set forth in Section 7.02(a) take any applicable Indemnifiable Action (and provided that the applicable Indemnifiable Action is not revoked or rescinded within the time periods set forth in Section 7.02(a)(i) and (ii)), the applicable indemnifying party shall absolutely and unconditionally be liable to pay, and shall pay, the applicable indemnified party for any and all Losses suffered as a result thereof. Notwithstanding anything to the contrary in this Section 7.02, the foregoing sentence shall not limit the remedies which either JMB/NYC or OHSP may have against any other Party and the right of JMB/NYC or OHSP to seek injunctive relief with respect to the applicable Indemnifiable Actions or specific performance of the obligation underlying the same.