Common use of Ceilings Clause in Contracts

Ceilings. The obligation of Sellers to indemnify the Buyer Indemnitees pursuant to (A) Sections 9.02(a)(i) (other than with respect to any breach of the Fundamental Representations, a failure to perform any Post-Closing Covenant or the special warranty contained in Section 3.01(c)) shall not exceed, in the aggregate fifteen percent (15%) of the unadjusted Purchase Price, and (B) Section 9.02(a)(viii) shall not, with respect to any Property affected by the failure to obtain the applicable Third Party Consent, exceed the Allocated Value of such Property.

Appears in 2 contracts

Sources: Interest Purchase Agreement (Energy 11, L.P.), Exclusive Option Agreement (Energy 11, L.P.)

Ceilings. The obligation of Sellers Seller to indemnify the Buyer Indemnitees pursuant to (A) Sections 9.02(a)(i) (other than with respect to any breach of the Fundamental Representations, a failure to perform any Post-Closing Covenant or the special warranty contained in Section 3.01(c)) shall not exceed, in the aggregate fifteen percent (15%) of the unadjusted Purchase Price, and (B) Section 9.02(a)(viii) shall not, with respect to any Property affected by the failure to obtain the applicable Third Party Consent, exceed the Allocated Value of such Property.

Appears in 1 contract

Sources: Interest Purchase Agreement (Energy 11, L.P.)

Ceilings. The obligation of Sellers to indemnify the Buyer Indemnitees pursuant to (A) Sections Section 9.02(a)(i) (other than with respect to any breach of the Fundamental Representations, a failure to perform any Post-Closing Covenant or the special warranty contained in Section 3.01(c)) shall not exceed, in the aggregate fifteen percent (15%) of the unadjusted Purchase Price, and (B) Section 9.02(a)(viii) shall not, with respect to any Property affected by the failure to obtain the applicable Third Party Consent, exceed the Allocated Value of such Property.

Appears in 1 contract

Sources: Interest Purchase Agreement (Energy 11, L.P.)