Common use of Basket Clause in Contracts

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 exceeds ten thousand dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Transnational Group, Inc.), Agreement and Plan of Merger (Cloudcommerce, Inc.)

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Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 9.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 9.1 exceeds ten thousand dollars Ten Thousand Dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Solar3d, Inc.), Asset Purchase Agreement (Solar3d, Inc.)

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 9.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 9.1 exceeds ten thousand dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding including the amount of the Basket.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Solar3d, Inc.)

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 7.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 7.1 exceeds ten thousand dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 1 contract

Samples: Purchase Agreement (Cloudcommerce, Inc.)

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 9.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 9.1 exceeds ten thousand dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Warp 9, Inc.)

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 7.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 7.1 exceeds ten two hundred thousand dollars ($10,000200,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller Sellers shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 1 contract

Samples: Purchase Agreement (Quest Solution, Inc.)

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Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 9.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 9.1 exceeds ten fifty thousand dollars ($10,00050,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Freeze Tag, Inc.)

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of Section 8.1 9.1 until the aggregate amount of all claims for Losses which arise out of Section 8.1 9.1 exceeds ten thousand dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 1 contract

Samples: Employment Agreement (Originclear, Inc.)

Basket. A Buyer Indemnified Party shall not be entitled to make a claim for indemnification for any Losses arising out of under Section 8.1 10.1 until the aggregate amount of all claims for Losses which arise out of under Section 8.1 10.1 exceeds ten thousand dollars ($10,000) (the "Basket"). In the event the aggregate amount of such Losses exceeds the Basket, then the Seller shall indemnify such Buyer Indemnified Party with respect to the amount of all Losses exceeding the amount of the Basket.

Appears in 1 contract

Samples: Asset Purchase Agreement (Digital Locations, Inc.)

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