{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "indemnifying-party", "type": "definition", "offset": [51, 69]}, {"key": "in-respect-of", "type": "definition", "offset": [70, 83]}, {"key": "indemnifiable-losses", "type": "clause", "offset": [88, 108]}, {"key": "a-third-party", "type": "clause", "offset": [195, 208]}, {"key": "potential-contributor", "type": "definition", "offset": [213, 234]}, {"key": "based-on", "type": "clause", "offset": [237, 245]}, {"key": "claim-or-demand", "type": "definition", "offset": [261, 276]}, {"key": "to-the-extent", "type": "clause", "offset": [342, 355]}, {"key": "applicable-law", "type": "definition", "offset": [369, 383]}, {"key": "rights-to-proceed", "type": "clause", "offset": [404, 421]}, {"key": "notwithstanding-section", "type": "clause", "offset": [702, 725]}, {"key": "subject-of", "type": "clause", "offset": [831, 841]}, {"key": "a-portion", "type": "definition", "offset": [881, 890]}, {"key": "pursuant-to", "type": "clause", "offset": [957, 968]}, {"key": "article-v", "type": "clause", "offset": [974, 983]}, {"key": "remit-to", "type": "definition", "offset": [1015, 1023]}, {"key": "the-excess", "type": "clause", "offset": [1047, 1057]}, {"key": "amount-paid", "type": "definition", "offset": [1078, 1089]}, {"key": "amount-received", "type": "clause", "offset": [1155, 1170]}, {"key": "the-third-party", "type": "definition", "offset": [1176, 1191]}, {"key": "to-pay", "type": "clause", "offset": [1313, 1319]}, {"key": "indemnification-provisions", "type": "definition", "offset": [1423, 1449]}, {"key": "subrogation-rights", "type": "definition", "offset": [1467, 1485]}, {"key": "understood-and-agreed-that", "type": "clause", "offset": [1527, 1553]}, {"key": "other-third-party", "type": "definition", "offset": [1572, 1589]}, {"key": "to-receive", "type": "definition", "offset": [1668, 1678]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [1785, 1825]}, {"key": "contribution-obligations", "type": "definition", "offset": [1864, 1888]}, {"key": "separation-agreement", "type": "definition", "offset": [1900, 1920]}, {"key": "take-into-account", "type": "definition", "offset": [1946, 1963]}, {"key": "treatment-of", "type": "definition", "offset": [1972, 1984]}, {"key": "the-relevant", "type": "clause", "offset": [1985, 1997]}, {"key": "with-respect-to", "type": "clause", "offset": [2009, 2024]}, {"key": "contribution-payment", "type": "clause", "offset": [2048, 2068]}, {"key": "indemnified-item", "type": "definition", "offset": [2076, 2092]}], "snippet": "(a) If any Indemnitee receives any payment from an Indemnifying Party in respect of any Indemnifiable Losses and the Indemnitee could have recovered all or a part of such Indemnifiable Loss from a third party (a \u201cPotential Contributor\u201d) based on the underlying claim or demand asserted against such Indemnifying Party, such Indemnitee shall, to the extent permitted by applicable Law, assign such of its rights to proceed against the Potential Contributor as are necessary to permit such Indemnifying Party to recover from the Potential Contributor the amount of such payment or the Indemnifying Party shall otherwise be subrogated to such Indemnitee\u2019s rights against the Potential Contributor.\n(b) If notwithstanding Section 5.04 an Indemnitee receives an amount from a third party in respect of an Indemnifiable Loss that is the subject of indemnification hereunder after all or a portion of such Indemnifiable Loss has been paid by an Indemnifying Party pursuant to this Article V, the Indemnitee shall promptly remit to the Indemnifying Party the excess (if any) of (i) the amount paid by the Indemnifying Party in respect of such Liability, plus the amount received from the Third Party in respect thereof, less (ii) the full amount of the Indemnifiable Loss.\n(c) An insurer who would otherwise be obligated to pay any claim shall not be relieved of the responsibility with respect thereto or, solely by virtue of the indemnification provisions hereof, have any subrogation rights with respect thereto, it being expressly understood and agreed that no insurer or any other third party shall be entitled to a \u201cwind-fall\u201d (i.e. a benefit they would not be entitled to receive in the absence of the indemnification provisions) by virtue of the indemnification provisions hereof.\n(d) Notwithstanding anything to the contrary, the amount of any indemnification or contribution obligations under this Separation Agreement shall not be adjusted to take into account the Tax treatment of the relevant Indemnitee with respect to the indemnification or contribution payment or the indemnified item.", "samples": [{"hash": "kAAIsOT5ut8", "uri": "/contracts/kAAIsOT5ut8#certain-limitations", "label": "Separation Agreement (Assisted Living Concepts Inc)", "score": 21.0, "published": true}, {"hash": "blLa8C3f9oX", "uri": "/contracts/blLa8C3f9oX#certain-limitations", "label": "Separation Agreement (Assisted Living Concepts Inc)", "score": 21.0, "published": true}, {"hash": "GUTKeExMM5", "uri": "/contracts/GUTKeExMM5#certain-limitations", "label": "Separation Agreement (Assisted Living Concepts Inc)", "score": 21.0, "published": true}], "size": 129, "hash": "cac76aa6575ac2737db6ea69513ee3c2", "id": 9}, {"snippet_links": [{"key": "the-indemnification", "type": "definition", "offset": [0, 19]}, {"key": "subject-to-the", "type": "definition", "offset": [75, 89]}, {"key": "buyer-indemnitees", "type": "clause", "offset": [159, 176]}, {"key": "aggregate-amount", "type": "clause", "offset": [229, 245]}, {"key": "in-respect-of", "type": "definition", "offset": [260, 273]}, {"key": "seller-shall", "type": "clause", "offset": [360, 372]}, {"key": "to-pay", "type": "clause", "offset": [385, 391]}, {"key": "first-dollar", "type": "definition", "offset": [434, 446]}, {"key": "pursuant-to-section", "type": "clause", "offset": [524, 543]}, {"key": "the-purchase-price", "type": "clause", "offset": [598, 616]}, {"key": "as-adjusted", "type": "definition", "offset": [644, 655]}, {"key": "seller-indemnitees", "type": "definition", "offset": [740, 758]}, {"key": "the-basket", "type": "clause", "offset": [902, 912]}, {"key": "buyer-shall", "type": "clause", "offset": [929, 940]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1141, 1170]}, {"key": "to-losses", "type": "clause", "offset": [1253, 1262]}, {"key": "arising-out-of", "type": "definition", "offset": [1275, 1289]}, {"key": "with-respect-to", "type": "clause", "offset": [1291, 1306]}, {"key": "breach-of-any", "type": "clause", "offset": [1344, 1357]}, {"key": "representation-or-warranty", "type": "clause", "offset": [1358, 1384]}, {"key": "section-303", "type": "definition", "offset": [1402, 1414]}, {"key": "article-viii", "type": "clause", "offset": [1514, 1526]}, {"key": "company-material-adverse-effect", "type": "definition", "offset": [1645, 1676]}, {"key": "contained-in", "type": "definition", "offset": [1708, 1720]}, {"key": "applicable-to", "type": "definition", "offset": [1734, 1747]}], "snippet": "The indemnification provided for in Section 8.02 and Section 8.03 shall be subject to the following limitations:\n(a) Seller and SED shall not be liable to the Buyer Indemnitees for indemnification under Section 8.02(a) until the aggregate amount of all Losses in respect of indemnification under Section 8.02(a) exceeds $500,000 (the \u201cBasket\u201d), in which event Seller shall be required to pay or be liable for all such Losses from the first dollar. The aggregate amount of all Losses for which Seller and SED shall be liable pursuant to Section 8.02(a) shall not exceed 100% of the nominal value of the Purchase Price set forth in Section 2.02 (as adjusted pursuant to Section 2.04) (the \u201cCap\u201d).\n(b) Buyer and DSS shall not be liable to the Seller Indemnitees for indemnification under Section 8.03(a) until the aggregate amount of all Losses in respect of indemnification under Section 8.03(a) exceeds the Basket, in which event Buyer shall be required to pay or be liable for all such Losses from the first dollar. The aggregate amount of all Losses for which Buyer shall be liable pursuant to Section 8.03(a) shall not exceed the Cap.\n(c) Notwithstanding the foregoing, the limitations set forth in Section 8.04(a) and Section 8.04(b) shall not apply to Losses based upon, arising out of, with respect to or by reason of any inaccuracy in or breach of any representation or warranty in Section 3.01, Section 3.03, Section 3.20, Section 3.22, Section 3.28, Section 4.01 and Section 4.05.\n(d) For purposes of this ARTICLE VIII, any inaccuracy in or breach of any representation or warranty shall be determined without regard to any materiality, Company Material Adverse Effect or other similar qualification contained in or otherwise applicable to such representation or warranty.", "samples": [{"hash": "EBvs1gzIGU", "uri": "/contracts/EBvs1gzIGU#certain-limitations", "label": "Share Exchange Agreement (Impact Biomedical Inc.)", "score": 34.7905540466, "published": true}, {"hash": "aZcI2f5ayr3", "uri": "/contracts/aZcI2f5ayr3#certain-limitations", "label": "Share Exchange Agreement (Impact Biomedical Inc.)", "score": 32.742641449, "published": true}, {"hash": "eXxACXQGI7t", "uri": "/contracts/eXxACXQGI7t#certain-limitations", "label": "Share Exchange Agreement (Document Security Systems Inc)", "score": 31.3299102783, "published": true}], "size": 304, "hash": "678a4fca96b0dc492a9d9888c5679ecf", "id": 1}, {"snippet_links": [{"key": "interest-periods", "type": "clause", "offset": [102, 118]}, {"key": "applicable-to", "type": "definition", "offset": [119, 132]}, {"key": "eurodollar-advances", "type": "definition", "offset": [145, 164]}, {"key": "consent-of", "type": "clause", "offset": [183, 193]}, {"key": "the-lenders", "type": "clause", "offset": [201, 212]}, {"key": "an-event-of-default", "type": "definition", "offset": [318, 337]}, {"key": "business-day", "type": "clause", "offset": [410, 422]}, {"key": "prior-to-the", "type": "clause", "offset": [423, 435]}, {"key": "date-of", "type": "clause", "offset": [446, 453]}, {"key": "comprised-of", "type": "definition", "offset": [468, 480]}, {"key": "the-administrative-agent-and-the-borrower", "type": "clause", "offset": [509, 550]}, {"key": "change-in", "type": "definition", "offset": [583, 592]}, {"key": "interpretation-of", "type": "definition", "offset": [603, 620]}, {"key": "legal-requirement", "type": "clause", "offset": [625, 642]}, {"key": "central-bank", "type": "definition", "offset": [674, 686]}, {"key": "governmental-authority", "type": "clause", "offset": [696, 718]}, {"key": "lending-office", "type": "definition", "offset": [771, 785]}, {"key": "agreement-to", "type": "definition", "offset": [824, 836]}, {"key": "to-fund", "type": "definition", "offset": [865, 872]}, {"key": "in-connection-with", "type": "clause", "offset": [1005, 1023]}, {"key": "such-determination", "type": "definition", "offset": [1176, 1194]}, {"key": "agrees-to", "type": "clause", "offset": [1232, 1241]}, {"key": "use-commercially-reasonable-efforts", "type": "clause", "offset": [1242, 1277]}, {"key": "consistent-with", "type": "definition", "offset": [1279, 1294]}, {"key": "internal-policies", "type": "definition", "offset": [1299, 1316]}, {"key": "regulatory-restrictions", "type": "definition", "offset": [1331, 1354]}, {"key": "restriction-on", "type": "clause", "offset": [1454, 1468]}, {"key": "determine-the", "type": "clause", "offset": [1677, 1690]}, {"key": "eurodollar-rate", "type": "definition", "offset": [1691, 1706]}, {"key": "of-the-borrower", "type": "clause", "offset": [1777, 1792]}, {"key": "subsequent-borrowing", "type": "definition", "offset": [1853, 1873]}, {"key": "agent-shall", "type": "definition", "offset": [1918, 1929]}, {"key": "the-borrower-and-the", "type": "clause", "offset": [1937, 1957]}, {"key": "each-advance", "type": "clause", "offset": [2034, 2046]}, {"key": "the-majority-lenders", "type": "clause", "offset": [2142, 2162]}, {"key": "the-cost", "type": "clause", "offset": [2375, 2383]}, {"key": "the-case", "type": "definition", "offset": [2462, 2470]}, {"key": "the-borrower-shall", "type": "clause", "offset": [2843, 2861]}, {"key": "continuation-of", "type": "clause", "offset": [2893, 2908]}, {"key": "in-accordance-with", "type": "clause", "offset": [2957, 2975]}, {"key": "the-provisions", "type": "clause", "offset": [2976, 2990]}, {"key": "contained-in", "type": "definition", "offset": [2991, 3003]}, {"key": "the-definition-of", "type": "definition", "offset": [3004, 3021]}, {"key": "to-the-borrower", "type": "definition", "offset": [3207, 3222]}, {"key": "base-rate-advances", "type": "definition", "offset": [3256, 3274]}, {"key": "existing-advances", "type": "definition", "offset": [3286, 3303]}, {"key": "the-interest", "type": "definition", "offset": [3375, 3387]}, {"key": "in-effect", "type": "definition", "offset": [3400, 3409]}, {"key": "swingline-advances", "type": "definition", "offset": [3421, 3439]}], "snippet": "Notwithstanding anything in paragraphs (a) and (b) above:\n(i) at no time shall there be more than six Interest Periods applicable to outstanding Eurodollar Advances;\n(ii) without the consent of all of the Lenders, the Borrower may not select Eurodollar Advances for any Borrowing to be made, Converted or continued if an Event of Default has occurred and is continuing;\n(iii) if any Lender shall, at least one Business Day prior to the requested date of any Borrowing comprised of Eurodollar Advances, notify the Administrative Agent and the Borrower that the introduction of or any change in or in the interpretation of any Legal Requirement makes it unlawful, or that any central bank or other Governmental Authority asserts that it is unlawful, for such Lender or its Lending Office to perform its obligations under this Agreement to make Eurodollar Advances or to fund or maintain Eurodollar Advances, (A) any obligation of such Lender to make, continue, or Convert to, Eurodollar Advances, including in connection with such requested Borrowing, shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist; and (B) such Lender agrees to use commercially reasonable efforts (consistent with its internal policies and legal and regulatory restrictions) to designate a different Lending Office if the making of such designation (1) would eliminate the restriction on such Lender described above, and (2) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender;\n(iv) if the Administrative Agent is unable to determine the Eurodollar Rate for Eurodollar Advances comprising any requested Borrowing, the right of the Borrower to select Eurodollar Advances for such Borrowing or for any subsequent Borrowing shall be suspended until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist, and each Advance comprising such Borrowing shall be made, Converted or continued as a Base Rate Advance;\n(v) if the Majority Lenders shall, at least one Business Day before the date of any requested Borrowing, notify the Administrative Agent that the Eurodollar Rate for Eurodollar Advances comprising such Borrowing will not adequately reflect the cost to such Lenders of making or funding their respective Eurodollar Advances, as the case may be, for such Borrowing, the right of the Borrower to select Eurodollar Advances for such Borrowing or for any subsequent Borrowing shall be suspended until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist, and each Advance comprising such Borrowing shall be a Base Rate Advance;\n(vi) if the Borrower shall fail to select the duration or continuation of any Interest Period for any Eurodollar Advances in accordance with the provisions contained in the definition of \u201cInterest Period\u201d in Section 1.1 and paragraph (a) or (b) above, the Administrative Agent will forthwith so notify the Borrower and the Lenders and such Advances will be made available to the Borrower on the date of such Borrowing as Base Rate Advances and, as to existing Advances, such Advances will be Converted into Base Rate Advances at the end of the Interest Period then in effect; and\n(vii) Swingline Advances may not be Converted or continued.", "samples": [{"hash": "hMgpSAOozNW", "uri": "/contracts/hMgpSAOozNW#certain-limitations", "label": "Credit Agreement (Nine Energy Service, Inc.)", "score": 28.3785076141, "published": true}, {"hash": "fFFswWmZOVB", "uri": "/contracts/fFFswWmZOVB#certain-limitations", "label": "Credit Agreement (Nine Energy Service, Inc.)", "score": 28.3785076141, "published": true}, {"hash": "ag9EdhPdQ7j", "uri": "/contracts/ag9EdhPdQ7j#certain-limitations", "label": "Credit Agreement (Nine Energy Service, Inc.)", "score": 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{"key": "transfers-of-shares", "type": "clause", "offset": [558, 577]}, {"key": "applicable-register", "type": "definition", "offset": [617, 636]}, {"key": "applicable-charges", "type": "definition", "offset": [651, 669]}, {"key": "the-production", "type": "clause", "offset": [716, 730]}, {"key": "other-information", "type": "definition", "offset": [843, 860]}, {"key": "including-without-limitation", "type": "clause", "offset": [862, 890]}, {"key": "exchange-control-approval", "type": "clause", "offset": [934, 959]}, {"key": "ownership-of", "type": "clause", "offset": [972, 984]}, {"key": "compliance-with-applicable-law", "type": "definition", "offset": [1001, 1031]}, {"key": "provisions-of", "type": "clause", "offset": [1046, 1059]}, {"key": "the-deposit-agreement", "type": "clause", "offset": [1107, 1128]}, {"key": "consistent-with-the", "type": "clause", "offset": [1252, 1271]}, {"key": "issuance-of-adrs", "type": "clause", "offset": [1295, 1311]}, {"key": "acceptance-of-deposits", "type": "clause", "offset": [1317, 1339]}, {"key": "withdrawal-of-deposited-securities", "type": "clause", "offset": [1482, 1516]}, {"key": "in-particular", "type": "clause", "offset": [1548, 1561]}, {"key": "adr-register", "type": "definition", "offset": [1582, 1594]}], "snippet": "Prior to the issue, registration, registration of transfer, split-up or combination of any ADR, the delivery of any distribution in respect thereof, or, subject to the last sentence of paragraph (2), the withdrawal of any Deposited Securities, and from time to time in the case of clause (b)(ii) of this paragraph (4), the Company, the Depositary or the Custodian may require: (a) payment with respect thereto of (i) any stock transfer or other tax or other governmental charge, (ii) any stock transfer or registration fees in effect for the registration of transfers of Shares or other Deposited Securities upon any applicable register and (iii) any applicable charges as provided in paragraph (7) of this ADR; (b) the production of proof satisfactory to it of (i) the identity of any signatory and genuineness of any signature and (ii) such other information, including without limitation, information as to citizenship, residence, exchange control approval, beneficial ownership of any securities, compliance with applicable law, regulations, provisions of or governing Deposited Securities and terms of the Deposit Agreement and this ADR, as it may deem necessary or proper; and (c) compliance with such regulations as the Depositary may establish consistent with the Deposit Agreement. The issuance of ADRs, the acceptance of deposits of Shares, the registration, registration of transfer, split-up or combination of ADRs or, subject to the last sentence of paragraph (2), the withdrawal of Deposited Securities may be suspended, generally or in particular instances, when the ADR Register or any register for Deposited Securities is closed or when any such action is deemed advisable by the Depositary.", "samples": [{"hash": "6VAuU7f4d90", "uri": "/contracts/6VAuU7f4d90#certain-limitations", "label": "Deposit Agreement (JPMorgan Chase Bank, N.A. - ADR Depositary)", "score": 33.045173645, "published": true}, {"hash": "4y7J2WtYVeX", "uri": "/contracts/4y7J2WtYVeX#certain-limitations", "label": "Deposit Agreement (JPMorgan Chase Bank, N.A. - ADR Depositary)", "score": 32.7563323975, "published": true}, {"hash": "hO4kYwAxKpP", "uri": "/contracts/hO4kYwAxKpP#certain-limitations", "label": "Deposit Agreement (JPMorgan Chase Bank, N.A. - ADR Depositary)", "score": 32.6618766785, 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[686, 692]}, {"key": "de-minimis", "type": "definition", "offset": [968, 978]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [1110, 1150]}, {"key": "sole-recourse", "type": "clause", "offset": [1177, 1190]}, {"key": "indemnifying-members", "type": "definition", "offset": [1203, 1223]}, {"key": "based-on", "type": "clause", "offset": [1325, 1333]}, {"key": "arising-out-of", "type": "definition", "offset": [1335, 1349]}, {"key": "breach-of-any", "type": "clause", "offset": [1390, 1403]}, {"key": "company-fundamental-representation", "type": "definition", "offset": [1404, 1438]}, {"key": "seller-fundamental-representation", "type": "definition", "offset": [1442, 1475]}, {"key": "indemnification-escrow-fund", "type": "definition", "offset": [1504, 1531]}, {"key": "equal-to", "type": "definition", "offset": [1559, 1567]}, {"key": "indemnification-escrow-amount", "type": "clause", "offset": [1572, 1601]}, {"key": "provided-that", "type": "definition", "offset": [1603, 1616]}, {"key": "buyer-may", "type": "definition", "offset": [1617, 1626]}, {"key": "rw-insurance-policy", "type": "clause", "offset": [1894, 1914]}, {"key": "terms-and-conditions-of-the", "type": "clause", "offset": [1931, 1958]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1981, 2007]}, {"key": "not-covered", "type": "definition", "offset": [2180, 2191]}, {"key": "misrepresentation-or-fraud", "type": "clause", "offset": [2371, 2397]}, {"key": "subject-to-section", "type": "clause", "offset": [2462, 2480]}, {"key": "amount-payable", "type": "clause", "offset": [2493, 2507]}, {"key": "to-buyer", "type": "definition", "offset": [2536, 2544]}, {"key": "joint-and-several", "type": "clause", "offset": [2874, 2891]}, {"key": "the-escrow-agreement", "type": "clause", "offset": [3442, 3462]}, {"key": "this-agreement", "type": "clause", "offset": [3551, 3565]}, {"key": "reasonable-steps-to-mitigate", "type": "clause", "offset": [3695, 3723]}, {"key": "any-loss", "type": "definition", "offset": [3724, 3732]}, {"key": "commercially-reasonable-efforts", "type": "definition", "offset": [3836, 3867]}, {"key": "insurance-policies", "type": "clause", "offset": [3885, 3903]}, {"key": "similar-agreements", "type": "clause", "offset": [3940, 3958]}, {"key": "an-indemnified-party", "type": "clause", "offset": [4006, 4026]}, {"key": "insurance-provider", "type": "definition", "offset": [4061, 4079]}, {"key": "other-third-party", "type": "definition", "offset": [4083, 4100]}, {"key": "no-losses", "type": "clause", "offset": [4106, 4115]}, {"key": "to-the-extent", "type": "clause", "offset": [4189, 4202]}, {"key": "calculation-of", "type": "definition", "offset": [4235, 4249]}, {"key": "adjustment-to-the-purchase-price", "type": "clause", "offset": [4254, 4286]}, {"key": "section-23", "type": "clause", "offset": [4293, 4304]}], "snippet": "The party making a claim under this Article VIII is the \u201cIndemnified Party,\u201d and the party against whom such claim is asserted under this Article VIII is the \u201cIndemnifying Party.\u201d The indemnification provided for in Section 8.2, Section 8.3 and Section 8.4 are subject to these limitations:\n(A) the Indemnifying Party will not be liable to the Indemnified Party for indemnification under Section 8.2(A), Section 8.3(A) or Section 8.4(A), until the aggregate amount of all Losses otherwise indemnified against in Section 8.2(A), Section 8.3(A), or Section 8.4(A) exceeds Six Hundred Thousand Dollars $600,000.00 (the \u201cDeductible\u201d), in which event the Indemnifying Party is required only to pay or be liable for Losses in excess of the Deductible. The Indemnifying Party will not be liable to the Indemnified Party for indemnification under Section 8.2(A), Section 8.3(A) or Section 8.4(A) for any individual or series of related Losses that do not exceed $15,000 (the \u201cDe Minimis\u201d), no such Losses will be indemnified under Section 8.2(A), Section 8.3(A) or Section 8.4(A) or counted toward the Deductible.\n(B) Notwithstanding anything to the contrary set forth herein, Buyer\u2019s sole recourse against the Indemnifying Members hereunder for all Losses indemnified against in Section 8.2(A) and Section 8.3(A), other than Losses based on, arising out of, regarding or from any inaccuracy in or breach of any Company Fundamental Representation or Seller Fundamental Representation, shall be recovery from the Indemnification Escrow Fund, up to an aggregate amount equal to the Indemnification Escrow Amount, provided that Buyer may seek recovery for all Losses indemnified against in Section 8.2(A) and Section 8.3(A), other than Losses based on, arising out of, regarding or from any inaccuracy in or breach of any Company Fundamental Representation or Seller Fundamental Representation, under the R&W Insurance Policy, subject to the terms and conditions of the R&W Insurance Policy. For the avoidance of doubt, all Losses based on, arising out of, regarding or from any items identified in Section 8.2 (other than Section 8.2(A)) or Section 8.3 (other than Section 8.3(A)) that are not covered under the R&W Insurance Policy, including any inaccuracy in or breach of any Company Fundamental Representation or Seller Fundamental Representation or any willful or intentional misrepresentation or fraud, shall be recoverable as set forth in Section 8.5(C) below.\n(C) Subject to Section 8.5(B), any amount payable by the Indemnifying Members to Buyer under this Article VIII shall first be satisfied from the Indemnification Escrow Fund. If the Indemnification Escrow Fund has been exhausted, is unavailable or is insufficient to satisfy in full the amount payable by the Indemnifying Members hereunder, Buyer may recover such amounts directly from the Indemnifying Members, on a joint and several basis, subject to the limitations set forth herein. Subject to Section 8.5(B), any amount payable by any Seller to Buyer under this Article VIII shall first be satisfied from the Indemnification Escrow Fund. If the Indemnification Escrow Fund has been exhausted, is unavailable or is insufficient to satisfy in full the amount payable by such Seller hereunder, Buyer may recover such amounts directly from such Seller, subject to the limitations set forth herein. Any claim under the Indemnification Escrow Fund must be made pursuant to the terms of the Escrow Agreement.\n(D) The aggregate amount of all Losses for which an Indemnifying Party is liable under this Agreement shall be limited to the Purchase Price.\n(E) Each Indemnified Party must take, and cause its Affiliates to take, all commercially reasonable steps to mitigate any Loss on learning of any event or circumstance reasonably expected to, or causing a Loss, including by using commercially reasonable efforts to recover under insurance policies or indemnity, contribution or other similar agreements, provided, that such efforts shall not require an Indemnified Party to commence litigation against an insurance provider or other third party.\n(F) No Losses may be claimed under Section 8.2 or Section 8.3 by any Indemnified Party to the extent such Losses are included in the calculation of any adjustment to the Purchase Price under Section 2.3.", "samples": [{"hash": "3ormctJfLCp", "uri": "/contracts/3ormctJfLCp#certain-limitations", "label": "Membership Interest Purchase Agreement (McBc Holdings, Inc.)", "score": 29.6899375916, "published": true}, {"hash": "j9hJq1d1UWx", "uri": "/contracts/j9hJq1d1UWx#certain-limitations", "label": "Membership Interest Purchase Agreement", "score": 29.3408622742, "published": true}], "size": 167, "hash": "a92bd35139bc76b14718e199166e1b3e", "id": 5}, {"snippet_links": [{"key": "in-this-agreement", "type": "definition", "offset": [51, 68]}, {"key": "seller-will", "type": "clause", "offset": [121, 132]}, {"key": "to-indemnify", "type": "clause", "offset": [149, 161]}, {"key": "losses-incurred", "type": "clause", "offset": [209, 224]}, {"key": "breach-of-any", "type": "clause", "offset": [258, 271]}, {"key": "representation-or-warranty", "type": "clause", "offset": [272, 298]}, {"key": "organization-and-authority", "type": "clause", "offset": [326, 352]}, {"key": "title-to-purchased-assets", "type": "clause", "offset": [363, 388]}, {"key": "tax-matters", "type": "clause", "offset": [396, 407]}, {"key": "intentional-misconduct", "type": "definition", "offset": [469, 491]}, {"key": "except-to-the-extent", "type": "clause", "offset": [543, 563]}, {"key": "cumulative-amount", "type": "definition", "offset": [573, 590]}, {"key": "purchaser-indemnified-parties", "type": "definition", "offset": [645, 674]}, {"key": "basket-amount", "type": "clause", "offset": [740, 753]}, {"key": "to-pay", "type": "clause", "offset": [795, 801]}, {"key": "liability-for", "type": "clause", "offset": [817, 830]}, {"key": "seller-indemnified-parties", "type": "definition", "offset": [1428, 1454]}, {"key": "the-basket", "type": "clause", "offset": [1463, 1473]}, {"key": "jointly-and-severally", "type": "clause", "offset": [1524, 1545]}, {"key": "in-no-event-shall", "type": "clause", "offset": [1709, 1726]}, {"key": "liability-of-seller", "type": "clause", "offset": [1755, 1774]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [1790, 1810]}, {"key": "section-31", "type": "clause", "offset": [2020, 2031]}, {"key": "the-purchase-price", "type": "clause", "offset": [2167, 2185]}, {"key": "to-losses", "type": "clause", "offset": [2276, 2285]}, {"key": "liability-of-purchaser", "type": "clause", "offset": [2385, 2407]}, {"key": "the-case", "type": "definition", "offset": [3196, 3204]}, {"key": "with-respect-to", "type": "clause", "offset": [3213, 3228]}, {"key": "in-writing", "type": "clause", "offset": [3267, 3277]}, {"key": "prior-to-the", "type": "clause", "offset": [3278, 3290]}, {"key": "after-the-closing-date", "type": "clause", "offset": [3325, 3347]}, {"key": "claims-for-losses", "type": "clause", "offset": [3360, 3377]}, {"key": "at-any-time", "type": "clause", "offset": [3913, 3924]}, {"key": "statute-of-limitations", "type": "definition", "offset": [3963, 3985]}, {"key": "no-expiration", "type": "clause", "offset": [4061, 4074]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [4085, 4119]}, {"key": "by-each-party", "type": "clause", "offset": [4125, 4138]}, {"key": "shall-survive-the-closing", "type": "clause", "offset": [4157, 4182]}, {"key": "upon-expiration", "type": "clause", "offset": [4661, 4676]}, {"key": "intentional-misrepresentation", "type": "definition", "offset": [4752, 4781]}, {"key": "notice-of-any", "type": "clause", "offset": [4898, 4911]}, {"key": "applicable-expiration-date", "type": "definition", "offset": [5038, 5064]}, {"key": "indemnification-claim", "type": "clause", "offset": [5136, 5157]}, {"key": "finally-resolved", "type": "definition", "offset": [5241, 5257]}], "snippet": "Notwithstanding anything to the contrary contained in this Agreement, each of the following limitations shall apply:\n(a) Seller will not be required to indemnify Purchaser under Sections 9.1(a)(i) (other than Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in Sections 3.1 (Organization and Authority), 3.2(b) (Title to Purchased Assets), 3.9 (Tax Matters), 3.12 (Brokers, Finders, etc.), or attributable to fraud or intentional misconduct, as to which this Section 9.2(a) shall not apply), except to the extent that the cumulative amount of the Losses under Section 9.1(a)(i) incurred by the Purchaser Indemnified Parties exceeds Two Hundred Fifty Thousand Dollars (U.S. $250,000) (the \u201cBasket Amount\u201d) at which point Seller will be required to pay, and will have Liability for, the cumulative amount of the Losses under Section 9.1(a)(i) incurred by the Purchaser Indemnified Parties.\n(b) Purchaser, Parent and Opco will not be required to indemnify Seller under Section 9.1(b)(i) (other than Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in Sections 4.1 (Organization and Authority) or 4.3 (Brokers, Finders, etc.), or attributable to fraud or intentional misconduct, as to which this Section 9.2(b) shall not apply) except to the extent that the cumulative amount of the Losses under Section 9.1(b)(i) incurred by the Seller Indemnified Parties exceeds the Basket Amount at which point Purchaser, Parent and Opco, jointly and severally, will be required to pay, and will have Liability for, the cumulative amount of the Losses under Section 9.1(b)(i) incurred by the Seller Indemnified Parties.\n(c) In no event shall the aggregate out-of-pocket Liability of Seller for any Losses pursuant to Sections 9.1(a)(i) exceed Five Million Five Hundred Thousand Dollars (U.S. $5,500,000) (the \u201cCap\u201d); provided, that Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in Section 3.1 (Organization and Authority), 3.2(b) (Title to Purchased Assets), 3.9 (Tax Matters) and 3.12 (Brokers, Finders, etc.) shall not exceed the Purchase Price; provided, further, that the limitations set forth in this Section 9.2(c) shall not apply to Losses attributable to fraud or intentional misconduct.\n(d) In no event shall the aggregate out-of-pocket Liability of Purchaser, Parent or Opco for any Losses pursuant to Sections 9.1(b)(i) (other than Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in or attributable to fraud or intentional misconduct, as to which this Section 9.2(d) shall not apply) exceed the Cap; provided, that Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in Sections 4.1 (Organization and Authority) or 4.3 (Brokers, Finders, etc.) shall not exceed the Purchase Price; provided, further, that the limitations set forth in this Section 9.2(d) shall not apply to Losses attributable to fraud or intentional misconduct.\n(e) In no event shall Seller, Purchaser, Parent or Opco have any Liability under Section 9.1(a)(i), or 9.2(b)(i), as the case may be, with respect to claims that are not properly asserted in writing prior to the date that is eighteen (18) months after the Closing Date (other than claims for Losses incurred as a result of any inaccuracy or breach of any representation or warranty attributable to fraud or intentional misconduct, as to which this Section 9.2(e) shall not apply); provided, however, that (i) claims for Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in Sections 3.1 (Organization and Authority), 3.2(b) (Title to Purchased Assets), 3.9 (Tax Matters), 3.12 (Brokers, Finders, etc.), 4.1 (Organization and Authority) or 4.3 (Brokers, Finders, etc.), may be asserted at any time prior to expiration of the applicable statute of limitations and (ii) claims attributable to fraud or intentional misconduct, will have no expiration date.\n(f) The representations and warranties made by each Party in this Agreement shall survive the Closing and shall expire eighteen (18) months after the Closing Date and any Liability of any Party with respect to such representations and warranties (other than Losses incurred as a result of any inaccuracy or breach of any representation or warranty contained in (i) Sections 3.1 (Organization and Authority), 3.2(b) (Title to Purchased Assets), 3.9 (Tax Matters), 3.12 (Brokers, Finders, etc.), 4.1 (Organization and Authority) and 4.3 (Brokers, Finders, etc.), which shall expire upon expiration of the applicable statute of limitations, or (ii) attributable to fraud or intentional misrepresentation, as to which no expiration date shall apply; provided, however, that if, at any time prior to such expiration date, notice of any case for indemnification pursuant to Section 9.1(a) or Section 9.1(b), as the case may be, shall have been given prior to the applicable expiration date and such notice describes the circumstances with respect to which such indemnification claim relates, such indemnification claim shall survive until such time as such claim is finally resolved.", "samples": [{"hash": "h3XVyLhOvgx", "uri": "/contracts/h3XVyLhOvgx#certain-limitations", "label": "Asset Purchase Agreement (Horizon Pharma PLC)", "score": 26.1553726196, "published": true}, {"hash": "cqQ2dPod0Cr", "uri": "/contracts/cqQ2dPod0Cr#certain-limitations", "label": "Asset Purchase Agreement (Vidara Therapeutics International LTD)", "score": 25.4818611145, "published": true}, {"hash": "gH6gW1QtWrc", "uri": "/contracts/gH6gW1QtWrc#certain-limitations", "label": "Asset Purchase Agreement (Intermune Inc)", "score": 23.6009578705, "published": true}], "size": 160, "hash": "68c621290fbe0e9267069087d9fe10c2", "id": 6}, {"snippet_links": [{"key": "person-or-persons", "type": "clause", "offset": [4, 21]}, {"key": "making-a-claim", "type": "clause", "offset": [22, 36]}, {"key": "article-vii", "type": "clause", "offset": [48, 59]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [235, 275]}, {"key": "in-this-agreement", "type": "definition", "offset": [276, 293]}, {"key": "the-indemnification", "type": "definition", "offset": [295, 314]}, {"key": "section-72", "type": "clause", "offset": [331, 342]}, {"key": "section-73", "type": "clause", "offset": [347, 358]}, {"key": "subject-to-the", "type": "definition", "offset": [368, 382]}, {"key": "subject-to-section", "type": "clause", "offset": [406, 424]}, {"key": "in-the-case", "type": "clause", "offset": [443, 454]}, {"key": "company-fundamental-representations", "type": "definition", "offset": [483, 518]}, {"key": "company-tax-representations", "type": "definition", "offset": [524, 551]}, {"key": "pursuant-to-section", "type": "clause", "offset": [587, 606]}, {"key": "resulting-from-the", "type": "clause", "offset": [618, 636]}, {"key": "representations-and-warranties-as-to", "type": "clause", "offset": [647, 683]}, {"key": "representation-and-warranties", "type": "clause", "offset": [731, 760]}, {"key": "provided-that", "type": "definition", "offset": [803, 816]}, {"key": "by-the-company", "type": "clause", "offset": [932, 946]}, {"key": "provisions-relating-to-the", "type": "clause", "offset": [1066, 1092]}, {"key": "parent-indemnified-parties", "type": "definition", "offset": [1219, 1245]}, {"key": "section-41", "type": "clause", "offset": [1330, 1341]}, {"key": "section-45", "type": "clause", "offset": [1346, 1357]}, {"key": "aggregate-amount", "type": "clause", "offset": [1369, 1385]}, {"key": "in-respect-of", "type": "definition", "offset": [1400, 1413]}, {"key": "section-75", "type": "clause", "offset": [1741, 1752]}, {"key": "liability-of-the-sellers", "type": "clause", "offset": [1792, 1816]}, {"key": "the-indemnity", "type": "clause", "offset": [2174, 2187]}, {"key": "by-the-sellers", "type": "clause", "offset": [2399, 2413]}, {"key": "parent-fundamental-representations", "type": "definition", "offset": [2466, 2500]}, {"key": "seller-indemnified-parties", "type": "definition", "offset": [2593, 2619]}, {"key": "for-purposes-of", "type": "clause", "offset": [2965, 2980]}, {"key": "subject-matter", "type": "definition", "offset": [3067, 3081]}, {"key": "claim-for-indemnification", "type": "definition", "offset": [3087, 3112]}, {"key": "representation-and-warranty", "type": "definition", "offset": [3119, 3146]}, {"key": "company-material-adverse-effect", "type": "definition", "offset": [3247, 3278]}, {"key": "effect-of", "type": "clause", "offset": [3316, 3325]}, {"key": "use-of-the-word", "type": "clause", "offset": [3486, 3501]}, {"key": "company-material-contract", "type": "definition", "offset": [3534, 3559]}, {"key": "failure-to", "type": "clause", "offset": [3570, 3580]}, {"key": "company-disclosure-letter", "type": "definition", "offset": [3599, 3624]}, {"key": "materiality-qualifications", "type": "definition", "offset": [3636, 3662]}, {"key": "financial-statements", "type": "definition", "offset": [3757, 3777]}, {"key": "use-of-the-term", "type": "clause", "offset": [3792, 3807]}, {"key": "contained-in", "type": "definition", "offset": [3842, 3854]}, {"key": "with-respect-to-the-company", "type": "clause", "offset": [3878, 3905]}, {"key": "payments-by-an-indemnifying-party", "type": "clause", "offset": [4220, 4253]}, {"key": "any-loss", "type": "definition", "offset": [4307, 4315]}, {"key": "good-faith", "type": "clause", "offset": [4439, 4449]}, {"key": "commercially-reasonable-best-efforts", "type": "definition", "offset": [4454, 4490]}, {"key": "expenses-incurred", "type": "clause", "offset": [4580, 4597]}, {"key": "in-connection-with", "type": "clause", "offset": [4623, 4641]}, {"key": "insurance-proceeds", "type": "definition", "offset": [4727, 4745]}, {"key": "including-without-limitation", "type": "clause", "offset": [4757, 4785]}, {"key": "representations-and-warranties-insurance-policy", "type": "definition", "offset": [4806, 4853]}, {"key": "payment-or-reimbursement", "type": "clause", "offset": [4960, 4984]}, {"key": "to-parent", "type": "definition", "offset": [5092, 5101]}, {"key": "the-surviving-corporation", "type": "clause", "offset": [5122, 5147]}, {"key": "after-the-closing", "type": "clause", "offset": [5148, 5165]}, {"key": "losses-incurred", "type": "clause", "offset": [5216, 5231]}, {"key": "payment-to", "type": "clause", "offset": [5452, 5462]}, {"key": "applicable-indemnifying-party", "type": "definition", "offset": [5597, 5626]}, {"key": "recovery-of", "type": "clause", "offset": [5682, 5693]}, {"key": "without-limiting-the-generality-of-the-foregoing", "type": "clause", "offset": [5839, 5887]}, {"key": "to-the-extent", "type": "clause", "offset": [6008, 6021]}, {"key": "payment-of", "type": "clause", "offset": [6063, 6073]}, {"key": "closing-adjustment", "type": "definition", "offset": [6140, 6158]}, {"key": "the-adjustment", "type": "clause", "offset": [6170, 6184]}, {"key": "days-after", "type": "definition", "offset": [6233, 6243]}, {"key": "the-escrow-agent", "type": "definition", "offset": [6351, 6367]}, {"key": "the-escrow-agreement", "type": "clause", "offset": [6381, 6401]}, {"key": "balance-of-the", "type": "clause", "offset": [6459, 6473]}, {"key": "claims-for-indemnification", "type": "clause", "offset": [6520, 6546]}, {"key": "to-the-stockholders", "type": "definition", "offset": [6596, 6615]}, {"key": "excluded-shares", "type": "definition", "offset": [6642, 6657]}, {"key": "the-paying-agent", "type": "definition", "offset": [6676, 6692]}, {"key": "holders-of", "type": "clause", "offset": [6750, 6760]}, {"key": "vested-company-stock-options", "type": "definition", "offset": [6765, 6793]}, {"key": "treasury-shares", "type": "clause", "offset": [6939, 6954]}, {"key": "by-parent", "type": "clause", "offset": [6984, 6993]}, {"key": "each-case", "type": "definition", "offset": [7029, 7038]}, {"key": "transfer-of", "type": "clause", "offset": [7047, 7058]}, {"key": "immediately-available-funds", "type": "clause", "offset": [7059, 7086]}, {"key": "distribute-to", "type": "clause", "offset": [7229, 7242]}, {"key": "applicable-pro-rata-percentage", "type": "definition", "offset": [7320, 7350]}, {"key": "additional-per-share-merger-consideration", "type": "definition", "offset": [7380, 7421]}, {"key": "regularly-scheduled", "type": "clause", "offset": [7477, 7496]}, {"key": "receipt-of-funds", "type": "clause", "offset": [7511, 7527]}, {"key": "a-holder", "type": "definition", "offset": [7690, 7698]}, {"key": "agent-shall", "type": "definition", "offset": [7839, 7850]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [7993, 8019]}, {"key": "dissenting-stockholder", "type": "definition", "offset": [8023, 8045]}, {"key": "to-receive", "type": "definition", "offset": [8126, 8136]}, {"key": "section-26", "type": "clause", "offset": [8231, 8242]}, {"key": "other-termination", "type": "definition", "offset": [8361, 8378]}, {"key": "full-payment", "type": "clause", "offset": [8435, 8447]}, {"key": "amounts-owed", "type": "definition", "offset": [8455, 8467]}, {"key": "the-counterparty", "type": "definition", "offset": [8523, 8539]}, {"key": "parent-indemnified-party", "type": "definition", "offset": [8578, 8602]}, {"key": "full-reimbursement", "type": "clause", "offset": [8611, 8629]}, {"key": "litigation-expenses", "type": "definition", "offset": [8637, 8656]}, {"key": "the-special", "type": "definition", "offset": [8783, 8794]}, {"key": "indemnity-escrow-agreement", "type": "definition", "offset": [8795, 8821]}, {"key": "amount-owed", "type": "clause", "offset": [8854, 8865]}, {"key": "the-\u2587", "type": "clause", "offset": [8889, 8894]}, {"key": "to-the-sellers", "type": "clause", "offset": [8912, 8926]}, {"key": "the-payment", "type": "clause", "offset": [8946, 8957]}, {"key": "the-msa", "type": "definition", "offset": [8988, 8995]}, {"key": "prior-to-the-closing-date", "type": "clause", "offset": [9030, 9055]}, {"key": "special-indemnity-escrow-fund", "type": "definition", "offset": [9232, 9261]}, {"key": "the-restricted-stock", "type": "clause", "offset": [9483, 9503]}, {"key": "definition-of-the", "type": "clause", "offset": [10023, 10040]}, {"key": "special-indemnity-escrow-amount", "type": "definition", "offset": [10041, 10072]}], "snippet": "The Person or Persons making a claim under this ARTICLE VII is referred to as the \u201cIndemnified Party,\u201d and the Person or Persons against which such claims are asserted under this ARTICLE VII is referred to as the \u201cIndemnifying Party.\u201d Notwithstanding anything to the contrary in this Agreement, the indemnification provided for in SECTION 7.2 and SECTION 7.3 shall be subject to the following limitations (subject to SECTION 8.13):\n(a) Except in the case of Losses for breach of the Company Fundamental Representations, the Company Tax Representations and Losses otherwise indemnifiable pursuant to SECTION 7.2(a) and resulting from the breach of representations and warranties as to which coverage is expressly excluded under the Representation and Warranties Insurance Policy (\u201cUninsured R&W Losses\u201d; provided that any matter that would otherwise be an Uninsured R&W Loss because of such an express exclusion but which is covered by the Company Tax Representations shall not be subject to the limitations herein on Uninsured R&W Losses but shall be covered by the provisions relating to the Company Tax Representations), in which case the following limitations shall not apply, the Sellers shall not be liable to the Parent Indemnified Parties for indemnification under SECTION 7.2(a) and SECTION 7.2(b) (solely with respect to SECTION 4.1 and SECTION 4.5) until the aggregate amount of all Losses in respect of such indemnification under SECTION 7.2(a) and SECTION 7.2(b) (solely with respect to SECTION 4.1 and SECTION 4.5) exceeds $2,650,000. Except in the case of the Company Fundamental Representations, the Company Tax Representations and the Uninsured R&W Losses, in which case the following limitations shall not apply, subject to SECTION 7.5, the maximum aggregate indemnification liability of the Sellers to the Parent Indemnified Parties pursuant to SECTION 7.2(a) and SECTION 7.2(b) (solely with respect to SECTION 4.1 and SECTION 4.5) shall not exceed $2,650,000.\n(b) Subject to SECTION 7.5, the maximum aggregate indemnification liability of the Sellers to the Parent Indemnified Parties pursuant to SECTION 7.2(a) for Uninsured R&W Losses, shall not exceed the Indemnity Escrow Amount.\n(c) The maximum aggregate indemnification liability of the Sellers to the Parent Indemnified Parties pursuant to SECTION 7.2 shall not exceed the amount of the Total Merger Consideration received by the Sellers.\n(d) Except in the case of Losses for breach of the Parent Fundamental Representations, in which case the following limitations shall not apply, Parent shall not be liable to the Seller Indemnified Parties for indemnification under SECTION 7.3(a) until the aggregate amount of all Losses in respect of such indemnification under SECTION 7.3(a) exceeds $2,650,000.\n(e) The maximum aggregate indemnification liability of Parent to the Seller Indemnified Parties pursuant to SECTION 7.3 shall not exceed the amount of the Total Merger Consideration.\n(f) For purposes of determining whether there has been a breach and the amount of any Losses that are the subject matter of a claim for indemnification, each representation and warranty in this Agreement shall be read without regard and without giving effect to the term \u201cmaterial\u201d or \u201cCompany Material Adverse Effect\u201d or any similar phrase which has the effect of making such representation and warranty less restrictive (as if any such word or phrase were deleted from such representation and warranty), other than (i) the use of the word \u201cmaterial\u201d in the definition of Company Material Contract, (ii) the failure to list items on the Company Disclosure Letter because of materiality qualifications to the disclosure, (iii) the use of the word \u201cmaterial\u201d in SECTION 3.1(f)(ii) with respect to Financial Statements, and (iv) the use of the term \u201cCompany Material Adverse Effect\u201d contained in SECTION 3.1(g). Solely with respect to the Company Tax Representations, for purposes of determining whether there has been a breach and the amount of any Losses that are the subject matter of a claim for indemnification, the Company Tax Representations shall be read without giving effect to the exceptions for items set forth in the Company Disclosure Letter.\n(g) Payments by an Indemnifying Party pursuant to SECTION 7.2 or SECTION 7.3 in respect of any Loss shall be limited to the amount of any Loss that remains after deducting therefrom any proceeds actually received following good faith and commercially reasonable best efforts for recovery by the Indemnified Party (it being understood that the reasonable costs and expenses incurred by the Indemnified Party in connection with seeking and obtaining such recovery shall be includable in Losses) consisting of (i) insurance proceeds (expressly including without limitation any proceeds of the Representations and Warranties Insurance Policy, the use of which proceeds is addressed by SECTION 7.5) and (ii) any indemnity, contribution or any other payment or reimbursement actually received by the Indemnified Party in respect of any such matter or claim, including, with respect to Parent, those recovered by the Surviving Corporation after the Closing (collectively, the \u201cThird-Party Recoveries\u201d). Any Losses incurred by any Indemnified Party with respect to any matter shall be calculated net of any Third-Party Recoveries. If any Third-Party Recovery is actually received by any Indemnified Party after an Indemnifying Party has made a payment to such Indemnified Party pursuant to this ARTICLE VII, any such Indemnified Party shall promptly remit such Third-Party Recovery to the applicable Indemnifying Party. The Indemnified Party shall not be required to pursue recovery of any Third-Party Recoveries.\n(h) No Indemnified Party will be entitled to recover from any Indemnifying Party for the same Losses more than once. Without limiting the generality of the foregoing, the Parent Indemnified Parties will not be entitled to indemnification under this ARTICLE VII with respect to any Loss to the extent such Loss would constitute a duplicative payment of an amount specifically taken into account in determining any post-Closing adjustment, including the adjustment under SECTION 2.5.\n(i) Within ten (10) Business Days after the 18-month anniversary of the Closing Date, Parent and the Sellers Representative shall jointly instruct the Escrow Agent, pursuant to the Escrow Agreement, to release and deliver (i) the portion of the remaining balance of the Indemnity Escrow Fund (subject to outstanding claims for indemnification pursuant to this ARTICLE VII), if any, allocable to the Stockholders (other than any holder of Excluded Shares at such time), to the Paying Agent, (ii) the portion of such remaining balance allocable to holders of the Vested Company Stock Options, to the Surviving Corporation and (iii) the portion of such remaining balance allocable to the Excluded Shares (if any) at such time (other than Treasury Shares), to Parent (or, if directed by Parent, to the Surviving Corporation), in each case by wire transfer of immediately available funds to the account(s) designated by the Paying Agent, the Surviving Corporation or Parent (as applicable) for such purpose. The Paying Agent will distribute to each Stockholder (other than any holder of Excluded Shares at such time) its applicable Pro Rata Percentage of such remaining balance as Additional Per Share Merger Consideration. The Surviving Corporation shall pay, through its next regularly scheduled payroll after receipt of funds, to each holder of the Vested Company Stock Options its applicable Pro Rata Percentage of such remaining balance as Additional Per Share Merger Consideration. If a holder of Excluded Shares subsequently becomes a Surrendering Stockholder, then Parent shall pay (or shall fund to the Paying Agent and the Paying Agent shall pay) such Surrendering Stockholder its applicable Pro Rata Percentage of such remaining balance as Additional Per Share Merger Consideration. For the avoidance of doubt, a Dissenting Stockholder (unless it, he or she becomes a Surrendering Stockholder) shall not be entitled to receive any portion of such remaining balance and shall only have the dissenters\u2019 rights set forth in SECTION 2.6.\n(j) Within ten (10) Business Days after the dismissal, settlement, issuance of non-appealable orders or judgments or other termination or resolution of each Special Litigation, including the full payment of all amounts owed in respect of any judgment, settlement or otherwise to the counterparty to such Special Litigation and to any Parent Indemnified Party and the full reimbursement of the Litigation Expenses to the Parent Indemnified Parties, Parent and the Sellers Representative shall jointly instruct the Escrow Agent, pursuant to the Special Indemnity Escrow Agreement, to release and deliver (i) any amount owed to any counterparty to the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Litigation to the Sellers Representative for the payment to such counterparty, (ii) if the MSA Settlement has not occurred on or prior to the Closing Date, any amount owed to any counterparty to the MSA Litigation to the Surviving Corporation for the payment to such counterparty, (iii) the portion of the remaining balance of the Special Indemnity Escrow Fund, if any, allocable to the Stockholders (other than any holder of Excluded Shares at such time), to the Paying Agent, (iv) the portion of such remaining balance allocable to holders of the Vested Company Stock Options and the Restricted Stock, to the Surviving Corporation and (v) the portion of such remaining balance allocable to the Excluded Shares (if any) at such time (other than Treasury Shares), to Parent (or, if directed by Parent, to the Surviving Corporation), in each case by wire transfer of immediately available funds to the account(s) designated by the Paying Agent, the Surviving Corporation or Parent (as applicable) for such purpose (it being understood that only the amount allocable to the applicable Special Litigation (as provided in the definition of the Special Indemnity Escrow Amount) that has been so dismissed, settled or otherwise resolved or terminated shall be released in connection with any such resolution thereof). The Paying Agent will distribute to each Stockholder (other than any holder of Excluded Shares at such time) its applicable Pro Rata Percentage of such remaining balance as Additional Per Share Merger Consideration. The Surviving Corporation shall pay, through its next regularly scheduled payroll after receipt of funds, to each holder of the Vested Company Stock Options its applicable Pro Rata Percentage of such remaining balance as Additional Per Share Merger Consideration. If a holder of Excluded Shares subsequently becomes a Surrendering Stockholder, then Parent shall pay (or shall fund to the Paying Agent and the Paying Agent shall pay) such Surrendering Stockholder its applicable Pro Rata Percentage of such remaining balance as Additional Per Share Merger Consideration. For the avoidance of doubt, a Dissenting Stockholder (unless it, he or she becomes a Surrendering Stockholder) shall not be entitled to receive any portion of such remaining balance and shall only have the dissenters\u2019 rights set forth in SECTION 2.6.", "samples": [{"hash": "9hgzw9Z3gVm", "uri": "/contracts/9hgzw9Z3gVm#certain-limitations", "label": "Merger Agreement (PRA Health Sciences, Inc.)", "score": 28.597536087, "published": true}], "size": 154, "hash": "bf880c08ee0f004f9b44491dad8d81f4", "id": 7}, {"snippet_links": [{"key": "purpose-of-the", "type": "clause", "offset": [8, 22]}, {"key": "to-acquire", "type": "definition", "offset": [111, 121]}, {"key": "dispose-of", "type": "definition", "offset": [165, 175]}, {"key": "borrow-money", "type": "clause", "offset": [193, 205]}, {"key": "security-interest", "type": "clause", "offset": [223, 240]}, {"key": "unrelated-third-parties", "type": "definition", "offset": [327, 350]}, {"key": "affiliated-entities", "type": "definition", "offset": [359, 378]}, {"key": "sale-contracts", "type": "definition", "offset": [403, 417]}, {"key": "service-contracts", "type": "clause", "offset": [422, 439]}, {"key": "motor-vehicles", "type": "definition", "offset": [525, 539]}, {"key": "related-documentation", "type": "definition", "offset": [569, 590]}, {"key": "monies-due", "type": "clause", "offset": [595, 605]}, {"key": "insurance-policies", "type": "clause", "offset": [659, 677]}, {"key": "related-rights", "type": "definition", "offset": [702, 716]}, {"key": "the-foregoing", "type": "definition", "offset": [744, 757]}, {"key": "obligations-under-the", "type": "clause", "offset": [808, 829]}, {"key": "basic-documents", "type": "definition", "offset": [830, 845]}, {"key": "limited-liability-company-agreement", "type": "clause", "offset": [865, 900]}, {"key": "llc-agreement", "type": "clause", "offset": [924, 937]}, {"key": "to-act", "type": "definition", "offset": [948, 954]}, {"key": "special-purpose-entities", "type": "definition", "offset": [1002, 1026]}, {"key": "securitization-trust", "type": "definition", "offset": [1037, 1057]}, {"key": "agreement-or", "type": "definition", "offset": [1087, 1099]}, {"key": "other-agreement", "type": "definition", "offset": [1100, 1115]}, {"key": "classes-of-certificates", "type": "clause", "offset": [1176, 1199]}, {"key": "beneficial-interests", "type": "definition", "offset": [1317, 1337]}, {"key": "securities-or-other-property", "type": "definition", "offset": [1369, 1397]}, {"key": "interests-in-collateral", "type": "clause", "offset": [1445, 1468]}, {"key": "reserve-accounts", "type": "definition", "offset": [1472, 1488]}, {"key": "the-issuance", "type": "clause", "offset": [1544, 1556]}, {"key": "other-instruments", "type": "clause", "offset": [1603, 1620]}, {"key": "equity-interests", "type": "definition", "offset": [1674, 1690]}, {"key": "limited-liability-companies", "type": "definition", "offset": [1700, 1727]}, {"key": "in-clauses", "type": "clause", "offset": [1807, 1817]}, {"key": "to-borrow", "type": "clause", "offset": [1847, 1856]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [1874, 1892]}, {"key": "to-the-extent", "type": "clause", "offset": [1913, 1926]}, {"key": "transactions-contemplated", "type": "clause", "offset": [1980, 2005]}, {"key": "funds-received", "type": "definition", "offset": [2076, 2090]}, {"key": "other-income", "type": "definition", "offset": [2181, 2193]}, {"key": "by-the-member", "type": "clause", "offset": [2209, 2222]}, {"key": "the-llc", "type": "clause", "offset": [2238, 2245]}, {"key": "from-time-to-time", "type": "clause", "offset": [2274, 2291]}, {"key": "the-obligations", "type": "clause", "offset": [2369, 2384]}, {"key": "relating-to", "type": "definition", "offset": [2429, 2440]}, {"key": "the-activities", "type": "clause", "offset": [2441, 2455]}, {"key": "engage-in-any", "type": "definition", "offset": [2575, 2588]}, {"key": "to-exercise", "type": "clause", "offset": [2616, 2627]}, {"key": "organized-under-the-laws-of-the-state-of-delaware", "type": "clause", "offset": [2680, 2729]}, {"key": "incidental-to", "type": "definition", "offset": [2739, 2752]}, {"key": "entering-into", "type": "clause", "offset": [2862, 2875]}, {"key": "interest-rate", "type": "definition", "offset": [2883, 2896]}, {"key": "basis-swap", "type": "definition", "offset": [2900, 2910]}, {"key": "collar-agreements", "type": "definition", "offset": [2926, 2943]}, {"key": "currency-exchange-agreements", "type": "definition", "offset": [2945, 2973]}, {"key": "hedging-transactions", "type": "definition", "offset": [2985, 3005]}, {"key": "the-funding", "type": "clause", "offset": [3039, 3050]}, {"key": "the-securities", "type": "definition", "offset": [3082, 3096]}, {"key": "letters-of-credit", "type": "clause", "offset": [3124, 3141]}, {"key": "administration-agreements", "type": "definition", "offset": [3210, 3235]}, {"key": "capitalized-terms-used", "type": "definition", "offset": [3237, 3259]}, {"key": "any-person", "type": "definition", "offset": [3554, 3564]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [3604, 3626]}, {"key": "any-business", "type": "definition", "offset": [3631, 3643]}, {"key": "activities-required", "type": "clause", "offset": [3659, 3678]}, {"key": "article-three", "type": "clause", "offset": [3714, 3727]}, {"key": "any-loan", "type": "clause", "offset": [4031, 4039]}, {"key": "invest-in", "type": "clause", "offset": [4143, 4152]}, {"key": "any-advance", "type": "clause", "offset": [4293, 4304]}, {"key": "made-pursuant-to", "type": "clause", "offset": [4343, 4359]}, {"key": "in-accordance-with", "type": "clause", "offset": [4512, 4530]}, {"key": "to-the-fullest-extent-permitted-by-law", "type": "clause", "offset": [4552, 4590]}, {"key": "transfer-of-ownership-interests", "type": "clause", "offset": [4669, 4700]}, {"key": "a-corporation", "type": "clause", "offset": [5016, 5029]}, {"key": "other-entity", "type": "clause", "offset": [5073, 5085]}, {"key": "notwithstanding-any-other-provision", "type": "clause", "offset": [5092, 5127]}, {"key": "section-67", "type": "clause", "offset": [5136, 5147]}, {"key": "provision-of-law", "type": "definition", "offset": [5156, 5172]}, {"key": "consent-of-the-members", "type": "definition", "offset": [5345, 5367]}, {"key": "members-of-the-board-of-directors", "type": "clause", "offset": [5393, 5426]}, {"key": "independent-directors", "type": "definition", "offset": [5459, 5480]}, {"key": "all-or-substantially-all-of-the-assets", "type": "definition", "offset": [5571, 5609]}, {"key": "institute-proceedings", "type": "clause", "offset": [5632, 5653]}, {"key": "bankrupt-or-insolvent", "type": "definition", "offset": [5691, 5712]}, {"key": "consent-to", "type": "definition", "offset": [5717, 5727]}, {"key": "the-institution", "type": "clause", "offset": [5728, 5743]}, {"key": "bankruptcy-or-insolvency-proceedings", "type": "clause", "offset": [5747, 5783]}, {"key": "with-respect-to", "type": "clause", "offset": [5876, 5891]}, {"key": "federal-or-state-law", "type": "definition", "offset": [5927, 5947]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [5991, 6016]}, {"key": "substantial-part", "type": "definition", "offset": [6110, 6126]}, {"key": "assignment-for-the-benefit-of-creditors", "type": "clause", "offset": [6157, 6196]}, {"key": "in-writing", "type": "clause", "offset": [6225, 6235]}, {"key": "inability-to-pay", "type": "definition", "offset": [6252, 6268]}, {"key": "any-action", "type": "definition", "offset": [6318, 6328]}, {"key": "dissolve-or-liquidate", "type": "clause", "offset": [6448, 6469]}, {"key": "organizational-documents", "type": "definition", "offset": [6523, 6547]}, {"key": "the-provisions", "type": "clause", "offset": [6574, 6588]}], "snippet": "(a) The purpose of the Depositor shall be limited to the conduct or promotion of the following activities: (i) to acquire, lease, own, hold, sell, transfer, convey, dispose of, pledge, assign, borrow money against, grant a security interest in, finance, refinance or otherwise deal with, publicly or privately and whether with unrelated third parties or with affiliated entities, automotive installment sale contracts and service contracts originated or acquired by CarMax or its Affiliates or interests therein, the related motor vehicles or interests therein and the related documentation and monies due or to become due thereunder, proceeds from claims on insurance policies related thereto and all related rights and the proceeds of any of the foregoing (collectively, the \u201cAssets\u201d), (ii) to perform its obligations under the Basic Documents (as defined in the limited liability company agreement of the Depositor (the \u201cLLC Agreement\u201d)), (iii) to act as settlor or grantor of one or more trusts or special purpose entities (each, a \u201cSecuritization Trust\u201d) formed pursuant to a trust agreement or other agreement, which Securitization Trust may issue one or more series or classes of certificates, bonds, notes or other evidences of interest or indebtedness (collectively, \u201cSecurities\u201d) secured by or representing beneficial interests in the Assets, (iv) to acquire Securities or other property of a Securitization Trust (including remainder interests in collateral or reserve accounts) or any interest in any of the foregoing, (v) to cause the issuance of, authorize, sell and deliver Securities or other instruments secured or collateralized by Securities, (vi) to own equity interests in other limited liability companies or partnerships whose purposes are substantially restricted to those described in clauses (i) through (v) above, (vii) to borrow money other than pursuant to clause (i) above, but only to the extent that such borrowing is permitted by the terms of the transactions contemplated by clauses (i) through (vi) above, (viii) to loan or otherwise invest funds received as a result of the Depositor\u2019s interest in any Securitization Trust or Securities and any other income, as determined by the Member (as defined in the LLC Agreement) of the Depositor from time to time, and (ix) to (A) negotiate, authorize, execute, deliver or assume or perform the obligations under any agreement, instrument or document relating to the activities set forth in clauses (i) through (viii) above, including the Basic Documents (as defined in the LLC Agreement) and (B) engage in any lawful act or activity and to exercise any powers permitted to limited liability companies organized under the laws of the State of Delaware that are incidental to and necessary, convenient or advisable for the accomplishment of the above-mentioned purposes, including the entering into of (x) interest rate or basis swap, cap, floor or collar agreements, currency exchange agreements or similar hedging transactions, (y) any agreement providing for the funding of any amount due under any of the Securities through direct borrowings, letters of credit, insurance or otherwise and (z) referral, management, servicing and administration agreements. Capitalized terms used in the following sentence, other than the terms \u201cDepositor\u201d and \u201cLLC Agreement\u201d, have the respective meanings assigned to them in the LLC Agreement. So long as any Obligation is outstanding, the Depositor shall not (i) except as contemplated in the Basic Documents, guarantee any obligation of any Person, including any Affiliate, (ii) engage, directly or indirectly, in any business other than the activities required or permitted to be performed under Article Three of the LLC Agreement, the Basic Documents or Section 4.10 of the LLC Agreement, (iii) incur, create or assume any indebtedness other than as expressly permitted under Article Three of the LLC Agreement, the Basic Documents or Section 4.10 of the LLC Agreement, (iv) make or permit to remain outstanding any loan or advance to, or own or acquire any stock or securities of, any Person, except that the Depositor may invest in those investments permitted under Article Three of the LLC Agreement, the Basic Documents or Section 4.10 of the LLC Agreement and may make any advance required or expressly permitted to be made pursuant to any provision of Article Three of the LLC Agreement, the Basic Documents or Section 4.10 of the LLC Agreement and permit the same to remain outstanding in accordance with such provisions, (v) to the fullest extent permitted by law, engage in any dissolution, liquidation, consolidation, merger, asset sale or transfer of ownership interests other than such activities as are expressly permitted pursuant to any provision of Article Three of the LLC Agreement, the Basic Documents or Section 4.10 of the LLC Agreement or (vi) except as contemplated by Article Three of the LLC Agreement or the Basic Documents, form, acquire or hold any subsidiary (whether a corporation, partnership, limited liability company or other entity).\n(b) Notwithstanding any other provision of this Section 6.7 and any provision of law, the Depositor shall not do any of the following:\n(i) engage in any business or activity other than as set forth in clause (a) above; or\n(ii) without the unanimous written consent of the members of the Depositor and the members of the Board of Directors of the Depositor (including all independent directors of the Depositor), (A) consolidate or merge the Depositor with or into any Person or sell all or substantially all of the assets of the Depositor, (B) institute proceedings to have the Depositor be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Depositor, (C) file a petition seeking, or consent to, reorganization or relief with respect to the Depositor under any applicable federal or State law relating to bankruptcy, (D) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Depositor or a substantial part of its property, (E) make any assignment for the benefit of creditors of the Depositor, (F) admit in writing the Depositor\u2019s inability to pay its debts generally as they become due, (G) take any action in furtherance of any action set forth in clauses (A) 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"type": "definition", "offset": [72, 80]}, {"key": "the-exercise-price", "type": "definition", "offset": [160, 178]}, {"key": "par-value-per-share", "type": "clause", "offset": [199, 218]}, {"key": "common-stock", "type": "definition", "offset": [222, 234]}], "snippet": "Notwithstanding anything herein to the contrary, the Company agrees not to enter into any transaction which, by reason of any adjustment hereunder, would cause the Exercise Price to be less than the par value per share of Common Stock.", "samples": [{"hash": "iw8HS6CeT1a", "uri": "/contracts/iw8HS6CeT1a#certain-limitations", "label": "Common Stock Purchase Warrant (Thermoenergy Corp)", "score": 23.2580432892, "published": true}, {"hash": "aS29Dj4pl3p", "uri": "/contracts/aS29Dj4pl3p#certain-limitations", "label": "Common Stock Purchase Warrant (Thermoenergy Corp)", "score": 22.540725708, "published": true}, {"hash": "hoo1W4dAmJ9", "uri": "/contracts/hoo1W4dAmJ9#certain-limitations", "label": "Common Stock Purchase 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"\u2587\u2587\u2587\u2587\u2587\u2587 Limitation"], ["exceptions-and-limitations", "Exceptions and Limitations", "Exceptions and Limitations"], ["conditions-and-limitations", "Conditions and Limitations", "Conditions and Limitations"], ["exceptions-to-limitations", "Exceptions to Limitations", "Exceptions to Limitations"]], "related_snippets": [], "updated": "2026-05-10T05:39:37+00:00", "also_ask": ["What strategic advantages can be gained by narrowing or broadening the scope of 'Certain Limitations'?", "Which essential elements must be included to ensure the clause is enforceable and not overly restrictive?", "What are the most common legal pitfalls or fatal flaws in drafting 'Certain Limitations' clauses?", "How do 'Certain Limitations' clauses compare to similar provisions in other jurisdictions or standard contracts?", "What factors do courts typically consider when determining the enforceability of 'Certain Limitations' clauses?"], "drafting_tip": "Specify all limitations precisely to prevent misinterpretation, define exceptions to clarify boundaries, and use clear language to ensure enforceability.", "explanation": "The 'Certain Limitations' clause sets specific boundaries or restrictions on the rights, obligations, or liabilities of the parties involved in an agreement. Typically, this clause may cap the amount of damages one party can claim, exclude certain types of losses from recovery, or limit the duration of particular obligations. For example, it might state that neither party is liable for indirect damages or that liability is limited to the amount paid under the contract. The core function of this clause is to manage and allocate risk between the parties, providing predictability and protecting against potentially excessive or unforeseen liabilities."}, "json": true, "cursor": ""}}