Basket. With respect to any Purchaser, the Purchaser Indemnitees associated with such Purchaser shall not have the right to be indemnified pursuant to Section 6B(i)(a) unless and until such Purchaser Indemnitees shall have incurred on a cumulative basis aggregate Losses of at least 1% of the portion of Closing Payment attributable to such Purchaser on Appendix A (the “Basket”), in which event the right to be indemnified shall apply only to the amount of Losses in excess of the Basket; provided, however, that the Basket shall not apply to claims based on Fraud or a breach of a Company Fundamental Representation.
Appears in 13 contracts
Sources: Securities Purchase Agreement (Accelerant Holdings), Securities Purchase Agreement (Accelerant Holdings), Securities Purchase Agreement (Accelerant Holdings)