Common use of Basket Clause in Contracts

Basket. The indemnification provided for in this Article VIII shall not apply unless the aggregate Damages for which one or more Indemnified Persons seeks indemnification exceeds $25,000. In the event that Damages do exceed $25,000, the Indemnifying Person will indemnify the Indemnified Persons for the entire amount of Damages (including the initially excluded $25,000 of Damages). This Section 8.3.3 shall not apply to any liability described in Section 8.3.2 above.

Appears in 4 contracts

Samples: Membership Interest Purchase Agreement (Dovebid Inc), Agreement and Plan of Merger (Dovebid Inc), Membership Interest Purchase Agreement (Dovebid Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.