Common use of Reporting Violations and Reimbursement Clause in Contracts

Reporting Violations and Reimbursement. Buyer shall immediately notify Seller of any violation of this Section or of the occurrence of any event prior to the Effective Date which, if it had occurred after the Effective Date, would constitute a violation of this Section, and pay Seller an amount equal to the amount of the payment, or the value of the gift paid or given in that violation or event.

Appears in 1 contract

Sources: Purchase and Sale Agreement

Reporting Violations and Reimbursement. Buyer shall immediately notify the Seller of any violation of this Section 21.1(A) or of the occurrence of any event prior to the Effective Date which, if it had occurred after the Effective Date, would constitute a violation of this SectionSection 21.1(A). In addition to any other remedies to which Seller may be legally entitled, and pay Buyer shall reimburse or issue a credit to Seller an amount equal to the amount of the payment, or the value of the gift paid benefit received by or given in to the director, employee or agent of Seller or any Affiliate of Seller as a consequence of that violation or event.

Appears in 1 contract

Sources: Asset Sale and Purchase Agreement (Daybreak Oil & Gas Inc)