Common use of Amount Limitation Clause in Contracts

Amount Limitation. Subject to the immediately following sentence (a) no party shall be entitled to indemnification under Section 9.1(a)(x)(i) or 9.1(b)(i) with respect to any claim for indemnification unless the aggregate amount of all Damages resulting from such claims exceeds an amount equal to one percent (1.0%) of the Purchase Price (the “Basket Amount”), at which time amounts of such Damages in excess, but only in excess, of the Basket Amount may be recovered as provided in this Article IX, and (b) the aggregate liability of Seller under Sections 9.1(a)(x)(i) and Buyer under Section 9.1(b)(i) for indemnification shall not exceed an amount equal to fifteen percent (15.0%) of the Purchase Price. Notwithstanding anything to the contrary in this Section 9.3(b), the provisions of this Section 9.3(b) will not apply to (x) the obligations of Seller to indemnify Buyer and any Affiliate of Buyer in connection with any inaccuracy in or breach of the representations and warranties of Seller set forth in Sections 2.1, 2.2, 2.3, 2.4 or 2.27 or (y) the obligations of Buyer to indemnify Seller or any Affiliate of Seller in connection with any inaccuracy in or breach of the representations and warranties of Buyer set forth in Sections 3.2 or 3.6.