Common use of Basket; Cap Clause in Contracts

Basket; Cap. Except as otherwise provided in Subsections 1.06(b)(ii) and (iii), the indemnification obligations of Owners provided for in Section 1.06(a) shall: (A) not require Owners to indemnify Purchaser’s Indemnitees for Losses incurred by Purchaser’s Indemnitees under this Section 1.06 until the aggregate amount of such Losses exceeds Five Hundred Thousand Dollars ($500,000.00) (“Owners’ Basket”), in which event the aggregate amount of such Losses are deemed to be material and Purchaser’s Indemnitees may claim indemnification for all of such Losses in excess of the Owners’ Basket; and (B) not exceed in the aggregate Eight Million Dollars ($8,000,000.00) (“Cap”);

Basket; Cap. Except as otherwise provided in Subsections 1.06(b)(ii) and (iii), the indemnification obligations of Owners provided for in Section 1.06(a) shall: (A) not require Owners to indemnify Purchaser’s 's Indemnitees for Losses incurred by Purchaser’s 's Indemnitees under this Section 1.06 until the aggregate amount of such Losses exceeds Five Hundred Thousand Dollars ($500,000.00) (“"Owners’ ' Basket”"), in which event the aggregate amount of such Losses are deemed to be material and Purchaser’s 's Indemnitees may claim indemnification for all of such Losses in excess of the Owners’ ' Basket; and (B) not exceed in the aggregate Eight Million Dollars ($8,000,000.00) (“"Cap”");