Common use of Cap Clause in Contracts

Cap. No Buyer Claims shall be asserted pursuant to Section 11.1.1 until the aggregate Losses suffered or incurred by Buyer are equal to or greater than $100,000 (the “Threshold Amount”), in which event Buyer Claims may be asserted only to the extent of the Losses in excess of such amount, excluding individual Losses that are less than the Threshold Amount. With respect to Buyer Claims asserted pursuant to Section 11.1.1, no indemnification shall be made in excess of the Purchase Price (the “Cap”).

Appears in 3 contracts

Samples: Membership Interests Purchase Agreement (Jacobs Entertainment Inc), Membership Interests Purchase Agreement (Jacobs Entertainment Inc), Membership Interests Purchase Agreement (Jacobs Entertainment Inc)

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Cap. No Buyer Claims shall be asserted pursuant to Section 11.1.1 until the aggregate Losses suffered or incurred by Buyer are equal to or greater than $100,000 (the “Threshold Amount”), in which event the Buyer Claims may be asserted only to the extent of the Losses in excess of such amount, excluding individual Losses that are less than the Threshold Amount. With respect to Buyer Claims asserted pursuant to Section 11.1.1, no indemnification shall be made in excess of the Purchase Price (the “Cap”).

Appears in 2 contracts

Samples: Membership Interests Purchase Agreement (Colonial Downs, LLC), Membership Interests Purchase Agreement (Jacobs Entertainment Inc)

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Cap. No Buyer Claims shall be asserted pursuant to Section 11.1.1 12.1.1 until the aggregate Losses suffered or incurred by Buyer are equal to or greater than $100,000 (the “Threshold Amount”), in which event the Buyer Claims may be asserted only to the extent of the Losses in excess of such amount, excluding individual Losses that are less than the Threshold Amount. With respect to Buyer Claims asserted pursuant to Section 11.1.112.1.1, no indemnification shall be made in excess of the Purchase Price (the “Cap”).

Appears in 1 contract

Samples: Membership Interests Purchase Agreement (Jacobs Entertainment Inc)

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