Disputed Claims. If Indemnitor objects to any Claim or Third Party Claim, it shall give written notice of such objection and brief statement of the grounds of such objection to Indemnitee within twenty (20) business days after notice is received. If no such notice is given, such claim shall be a Liquidated Claim. If such objection is made, Indemnitor and Indemnitee shall meet and use their best efforts to settle the dispute in writing which when resolved shall be a Liquidated Claim. If no such settlement is reached, the parties will submit their dispute to arbitration pursuant to Section 7(p) hereof.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Graphix Zone Inc /Ca/), Asset Purchase Agreement (Graphix Zone Inc /Ca/), Asset Purchase Agreement (Trimark Holdings Inc)
Disputed Claims. If Indemnitor objects to any Claim or Third Party Claim, it shall give written notice of such objection and brief statement of the grounds of such objection to Indemnitee within twenty (20) 20 business days after notice is received. If no such notice is given, such claim shall be a Liquidated Claim. If such objection is made, Indemnitor and Indemnitee shall meet and use their best efforts to settle the dispute in writing which which, when resolved resolved, shall be a Liquidated Claim. If no such settlement is reached, the parties will submit their dispute to arbitration pursuant to Section 7(p) hereof.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Telenetics Corp), Asset Purchase Agreement (Greenland Corp), Asset Purchase Agreement (Telenetics Corp)
