{"component": "clause", "props": {"groups": [{"samples": [{"hash": "cSOUwIpYxfW", "uri": "/contracts/cSOUwIpYxfW#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Fortune Carter M)", "score": 18.0, "published": true}, {"hash": "8CIuSEsL8dH", "uri": "/contracts/8CIuSEsL8dH#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Fortune Diversified Industries Inc)", "score": 18.0, "published": true}], "size": 26, "snippet": "In addition to and in no way limiting any other provisions of this Agreement:\n(a) Seller and each of the Shareholders hereby jointly and severally agree subsequent to the Closing Date to indemnify and hold Purchaser and persons serving as shareholders, officers, directors, employees or agents thereof (individually a \"Purchaser Indemnified Party\" and collectively, the \"Purchaser Indemnified Parties\") harmless from, and against any damages, liabilities, losses, taxes, fines, penalties, costs, and expenses (including, without limitation, reasonable fees of counsel) (collectively, \"Purchaser Indemnified Losses\") of any kind or nature whatsoever (whether or not arising out of third party claims and including all amounts paid in investigation, defense or settlement of the foregoing) which may be sustained or suffered by any of them arising out of or based upon any of the following matters:\n(i) fraud or intentional misrepresentation by Seller or any of the Shareholders in or of any of its/his representations, warranties or covenants under this Agreement or any Related Agreement or in any certificate, schedule, exhibit or financial statement delivered pursuant hereto or thereto;\n(ii) any other breach of any representation, warranty or covenant of Seller or any of the Shareholders under this Agreement or any Related Agreement or in any certificate, schedule, exhibit or financial statement delivered pursuant hereto or thereto, or by reason of any claim, action or proceedings asserted or instituted growing out of any matter or thing constituting a breach of such representations or warranties or covenants or any conduct by Seller or any of the Shareholders or performance by Seller or any of the Shareholders under any Assumed Contract prior to closing; and\n(iii) any liability obligation of Seller or any of the Shareholders relating to any Excluded Liabilities except to the extent such liability is covered by a policy of insurance carried by Purchaser and/or FDI. Regardless of anything herein to the contrary, Seller and each of the Shareholders shall not be responsible to indemnify the Purchaser Indemnified Parties from any Purchaser Indemnified Losses that are in excess of: (i) the Purchase Price; and (ii) the value of the FDI stock issued to Seller (valued at the Date of Closing).", "snippet_links": [{"key": "in-addition-to", "type": "clause", "offset": [0, 14]}, {"key": "in-no-way-limiting", "type": "clause", "offset": [19, 37]}, {"key": "other-provisions-of-this-agreement", "type": "clause", "offset": [42, 76]}, {"key": "of-the-shareholders", "type": "clause", "offset": [98, 117]}, {"key": "jointly-and-severally", "type": "clause", "offset": [125, 146]}, {"key": "the-closing-date", "type": "clause", "offset": [167, 183]}, {"key": "indemnify-and-hold", "type": "clause", "offset": [187, 205]}, {"key": "as-shareholders", "type": "clause", "offset": [236, 251]}, {"key": "purchaser-indemnified-party", "type": "definition", "offset": [319, 346]}, {"key": "purchaser-indemnified-parties", "type": "clause", "offset": [371, 400]}, {"key": "and-expenses", "type": "clause", "offset": [496, 508]}, {"key": "without-limitation", "type": "clause", "offset": [521, 539]}, {"key": "fees-of-counsel", "type": "clause", "offset": [552, 567]}, {"key": "indemnified-losses", "type": "definition", "offset": [595, 613]}, {"key": "arising-out-of", "type": "definition", "offset": [665, 679]}, {"key": "third-party-claims", "type": "definition", "offset": [680, 698]}, {"key": "the-foregoing", "type": "definition", "offset": [773, 786]}, {"key": "intentional-misrepresentation", "type": "definition", "offset": [910, 939]}, {"key": "agreement-or", "type": "definition", "offset": [1053, 1065]}, {"key": "related-agreement", "type": "definition", "offset": [1070, 1087]}, {"key": "financial-statement", "type": "clause", "offset": [1132, 1151]}, {"key": "breach-of-any", "type": "clause", "offset": [1205, 1218]}, {"key": "covenant-of-seller", "type": "clause", "offset": [1247, 1265]}, {"key": "representations-or-warranties", "type": "clause", "offset": [1578, 1607]}, {"key": "performance-by-seller", "type": "clause", "offset": [1676, 1697]}, {"key": "assumed-contract", "type": "clause", "offset": [1735, 1751]}, {"key": "prior-to-closing", "type": "clause", "offset": [1752, 1768]}, {"key": "obligation-of-seller", "type": "clause", "offset": [1794, 1814]}, {"key": "relating-to", "type": "definition", "offset": [1842, 1853]}, {"key": "excluded-liabilities", "type": "definition", "offset": [1858, 1878]}, {"key": "except-to-the-extent", "type": "clause", "offset": [1879, 1899]}, {"key": "covered-by", "type": "definition", "offset": [1918, 1928]}, {"key": "insurance-carried", "type": "clause", "offset": [1941, 1958]}, {"key": "by-purchaser", "type": "clause", "offset": [1959, 1971]}, {"key": "responsible-to", "type": "clause", "offset": [2080, 2094]}, {"key": "the-purchaser", "type": "definition", "offset": [2105, 2118]}, {"key": "the-purchase-price", "type": "clause", "offset": [2204, 2222]}, {"key": "the-value", "type": "clause", "offset": [2233, 2242]}, {"key": "to-seller", "type": "definition", "offset": [2267, 2276]}, {"key": "date-of-closing", "type": "definition", "offset": [2292, 2307]}], "hash": "4aeb7a4feb46695c63cad0a5d2c867b3", "id": 1}, {"samples": [{"hash": "lbXNJSSr5C5", "uri": "/contracts/lbXNJSSr5C5#indemnification-by-seller-and-shareholders", "label": "Stock Purchase Agreement (Turning Point Brands, Inc.)", "score": 29.848733744, "published": true}], "size": 4, "snippet": "Subject to the other terms and conditions of this Article VIII, Shareholders and Seller shall, in accordance with Section 8.04(e), indemnify and defend each of Buyer and its Affiliates (including the Target Companies) and their respective Representatives (collectively, the \"Buyer Indemnitees\") against, and shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed upon, the Buyer Indemnitees based upon, arising out of, with respect to or by reason of:\n(a) any inaccuracy in or breach of any of the representations or warranties of Shareholders contained in this Agreement or in any certificate or instrument delivered by or on behalf of Seller or Shareholders pursuant to this Agreement (other than in respect of Section 3.22, it being understood that the sole remedy for any such inaccuracy in or breach thereof shall be pursuant to Article VI), as of the date such representation or warranty was made or as if such representation or warranty was made on and as of the Closing Date (except for representations and warranties that expressly relate to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified date); or\n(b) any breach or non-fulfillment of any covenant, agreement or obligation to be performed by Seller or Shareholders pursuant to this Agreement (other than any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking or obligation in Article VI, it being understood that the sole remedy for any such breach, violation or failure shall be pursuant to Article VI).\n(c) any indemnification obligation of Seller or Shareholders under Article VI (Taxes) or Taxes or Losses payable by Seller or Shareholders under Article VI (without duplication of the indemnification obligations set forth in that Article; in the event of any conflict between the provisions of this Section 8.02(c) and the provisions of Article VI, the provisions of Article VI shall govern);\n(d) any Transaction Expenses or Indebtedness (other than Assumed Indebtedness) of the Target Companies outstanding as of the Closing to the extent not deducted from the Purchase Price in the determination of the Closing Payment pursuant to Section 2.02(c);\n(e) any Action or Liability arising out of or relating to the allocation or distribution of the Purchase Price consideration by the Seller's Representative among Seller, Shareholders and the Bonused Employees;\n(f) any Action or Liability arising out of or relating to the issues initially addressed or identified in the August 13, 2018 letter addressed to VaporFi Inc. on behalf of LG Chem, Ltd.;\n(g) any Action alleging any infringement, misappropriation, dilution or violation of the Intellectual Property of any Person by any Target Company and relating to the period prior to Closing, including without limitation, Actions disclosed in the Disclosure Schedules or otherwise disclosed or made known to Buyer;\n(h) any Action or Liability arising out of or relating to any Product Warranty Issues or Product Warranty Claims, whether such Product Warranty Issues or Product Warranty Claims are disclosed before or after Closing, but only if such Product Warranty Issues or Product Warranty Claims relate to products sold, distributed or manufactured by the Target Companies prior to Closing, including without limitation, Actions and other items disclosed in the Disclosure Schedules or otherwise disclosed or made known to Buyer. The scope of Seller\u2019s indemnification obligation under this clause shall include, without limitation, any Losses not covered under the insurance coverage referred to in Section 11.14, including without limitation, as a result of any deductibles, scope of coverage issues or coverage caps; and\n(i) any Action or Liability arising out of or relating to a Security Breach, including without limitation, the \u201cCredit Card Matter\u201d disclosed on Section 3.17(a), Item 4 of the Disclosure Schedules and any other Actions disclosed in the Disclosure Schedules or otherwise disclosed or made known to Buyer", "snippet_links": [{"key": "subject-to-the", "type": "definition", "offset": [0, 14]}, {"key": "article-viii", "type": "clause", "offset": [50, 62]}, {"key": "seller-shall", "type": "clause", "offset": [81, 93]}, {"key": "in-accordance-with", "type": "definition", "offset": [95, 113]}, {"key": "indemnify-and-defend", "type": "clause", "offset": [131, 151]}, {"key": "each-of-buyer", "type": "clause", "offset": [152, 165]}, {"key": "target-companies", "type": "clause", "offset": [200, 216]}, {"key": "respective-representatives", "type": "definition", "offset": [228, 254]}, {"key": "buyer-indemnitees", "type": "clause", "offset": [275, 292]}, {"key": "losses-incurred", "type": "definition", "offset": [417, 432]}, {"key": "sustained-by", "type": "clause", "offset": [436, 448]}, {"key": "the-buyer", "type": "clause", "offset": [467, 476]}, {"key": "arising-out-of", "type": "definition", "offset": [501, 515]}, {"key": "with-respect-to", "type": "clause", "offset": [517, 532]}, {"key": "breach-of-any", "type": "clause", "offset": [575, 588]}, {"key": "warranties-of-shareholders", "type": "clause", "offset": [615, 641]}, {"key": "agreement-or", "type": "definition", "offset": [660, 672]}, {"key": "certificate-or-instrument", "type": "definition", "offset": [680, 705]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [716, 734]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [758, 784]}, {"key": "in-respect-of", "type": "clause", "offset": [797, 810]}, {"key": "sole-remedy", "type": "clause", "offset": [854, 865]}, {"key": "pursuant-to-article", "type": "clause", "offset": [920, 939]}, {"key": "representation-or-warranty", "type": "clause", "offset": [965, 991]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [1058, 1080]}, {"key": "representations-and-warranties", "type": "clause", "offset": [1093, 1123]}, {"key": "relate-to", "type": "definition", "offset": [1139, 1148]}, {"key": "specified-date", "type": "clause", "offset": [1151, 1165]}, {"key": "with-reference-to", "type": "clause", "offset": [1223, 1240]}, {"key": "obligation-to", "type": "clause", "offset": [1330, 1343]}, {"key": "by-seller", "type": "clause", "offset": [1357, 1366]}, {"key": "breach-or-violation", "type": "clause", "offset": [1426, 1445]}, {"key": "failure-to", "type": "clause", "offset": [1453, 1463]}, {"key": "indemnification-obligation-of-seller", "type": "clause", "offset": [1670, 1706]}, {"key": "under-article", "type": "definition", "offset": [1723, 1736]}, {"key": "without-duplication", "type": "clause", "offset": [1819, 1838]}, {"key": "indemnification-obligations", "type": "definition", "offset": [1846, 1873]}, {"key": "in-the-event-of", "type": "definition", "offset": [1901, 1916]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [1942, 1968]}, {"key": "the-provisions-of-article", "type": "clause", "offset": [1981, 2006]}, {"key": "transaction-expenses", "type": "clause", "offset": [2063, 2083]}, {"key": "assumed-indebtedness", "type": "clause", "offset": [2112, 2132]}, {"key": "to-the-extent", "type": "clause", "offset": [2188, 2201]}, {"key": "the-purchase-price", "type": "clause", "offset": [2220, 2238]}, {"key": "determination-of-the", "type": "clause", "offset": [2246, 2266]}, {"key": "closing-payment", "type": "definition", "offset": [2267, 2282]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2283, 2302]}, {"key": "any-action", "type": "definition", "offset": [2316, 2326]}, {"key": "relating-to", "type": "definition", "offset": [2358, 2369]}, {"key": "the-allocation", "type": "clause", "offset": [2370, 2384]}, {"key": "distribution-of", "type": "clause", "offset": [2388, 2403]}, {"key": "purchase-price-consideration", "type": "definition", "offset": [2408, 2436]}, {"key": "by-the-seller", "type": "clause", "offset": [2437, 2450]}, {"key": "the-issues", "type": "clause", "offset": [2580, 2590]}, {"key": "addressed-to", "type": "clause", "offset": [2655, 2667]}, {"key": "the-intellectual-property", "type": "clause", "offset": [2794, 2819]}, {"key": "any-person", "type": "definition", "offset": [2823, 2833]}, {"key": "target-company", "type": "definition", "offset": [2841, 2855]}, {"key": "the-period", "type": "clause", "offset": [2872, 2882]}, {"key": "prior-to-closing", "type": "clause", "offset": [2883, 2899]}, {"key": "including-without-limitation", "type": "clause", "offset": [2901, 2929]}, {"key": "disclosure-schedules", "type": "definition", "offset": [2956, 2976]}, {"key": "known-to-buyer", "type": "definition", "offset": [3008, 3022]}, {"key": "warranty-issues", "type": "clause", "offset": [3094, 3109]}, {"key": "product-warranty-claims", "type": "clause", "offset": [3113, 3136]}, {"key": "after-closing", "type": "definition", "offset": [3226, 3239]}, {"key": "products-sold", "type": "clause", "offset": [3319, 3332]}, {"key": "other-items", "type": "definition", "offset": [3446, 3457]}, {"key": "the-scope", "type": "clause", "offset": [3543, 3552]}, {"key": "this-clause", "type": "clause", "offset": [3598, 3609]}, {"key": "losses-not-covered", "type": "clause", "offset": [3649, 3667]}, {"key": "insurance-coverage", "type": "clause", "offset": [3678, 3696]}, {"key": "coverage-issues", "type": "clause", "offset": [3798, 3813]}, {"key": "security-breach", "type": "clause", "offset": [3896, 3911]}, {"key": "credit-card", "type": "definition", "offset": [3948, 3959]}, {"key": "item-4", "type": "clause", "offset": [3998, 4004]}, {"key": "other-actions", "type": "clause", "offset": [4041, 4054]}], "hash": "8a410597e76a7af1190bb3975d8a05bc", "id": 3}, {"samples": [{"hash": "hx4ThMnpvZ8", "uri": "/contracts/hx4ThMnpvZ8#indemnification-by-seller-and-shareholders", "label": "Asset Acquisition Agreement (Physicians Specialty Corp)", "score": 18.0, "published": true}, {"hash": "cwM9SQBA7TQ", "uri": "/contracts/cwM9SQBA7TQ#indemnification-by-seller-and-shareholders", "label": "Asset Acquisition Agreement (Physicians Specialty Corp)", "score": 18.0, "published": true}, {"hash": "b8S2aKGEmPk", "uri": "/contracts/b8S2aKGEmPk#indemnification-by-seller-and-shareholders", "label": "Asset Acquisition Agreement (Physicians Specialty Corp)", "score": 18.0, "published": true}], "size": 9, "snippet": "(a) Seller and Shareholders (for purposes of this Section 8.3(a) and, to the extent applicable, Section 8.3(b) and Section 8.4, \"Indemnitor\"), shall jointly and severally indemnify and hold PSC and Parent and their respective officers, directors, shareholders, affiliates, agents, employees, legal representatives, successors and assigns (each of the foregoing, including PSC and Parent, for purposes of this Section 8.3(a) and, to the extent applicable, Sections 8.3(b) and Section 8.4, an \"Indemnified Person\") harmless from and against any and all liabilities, losses, claims, damages, actions, suits, costs, deficiencies and expenses (including, but not limited to, reasonable fees and disbursements of counsel through appeal), in an aggregate amount not to exceed the Acquisition Price arising from or by reason of or resulting from any breach by Indemnitor (or any of them) of any representation or warranty contained in this Agreement (including the Exhibits hereto) and each document, certificate or other instrument furnished or to be furnished by Indemnitor hereunder, and with respect to all times prior to the Closing Date, arising from or by reason of or resulting from the Indemnitor's management and conduct of the ownership or operation of the Business or the Assets and from any alleged act of negligence or malpractice of Indemnitor or its employees, agents and independent contractors in or about the Business or the Assets.\n(b) The Seller and the Shareholders jointly and severally agree to indemnify and hold harmless each Indemnified Person from and against any and all liabilities, losses, claims, damages, actions, suits, costs, deficiencies and expenses, including, but not limited to, reasonable fees and disbursements of counsel through appeal, resulting from, arising out of, relating to or caused by any breach of any covenant or agreement of the Seller or a Shareholder contained in this Agreement.", "snippet_links": [{"key": "seller-and-shareholders", "type": "clause", "offset": [4, 27]}, {"key": "for-purposes-of-this-section", "type": "clause", "offset": [29, 57]}, {"key": "to-the-extent", "type": "clause", "offset": [70, 83]}, {"key": "section-84", "type": "clause", "offset": [115, 126]}, {"key": "jointly-and-severally", "type": "clause", "offset": [149, 170]}, {"key": "legal-representatives", "type": "clause", "offset": [292, 313]}, {"key": "successors-and-assigns", "type": "definition", "offset": [315, 337]}, {"key": "the-foregoing", "type": "definition", "offset": [347, 360]}, {"key": "indemnified-person", "type": "definition", "offset": [492, 510]}, {"key": "and-expenses", "type": "clause", "offset": [625, 637]}, {"key": "not-limited", "type": "clause", "offset": [654, 665]}, {"key": "fees-and-disbursements-of-counsel", "type": "clause", "offset": [681, 714]}, {"key": "amount-not-to-exceed", "type": "clause", "offset": [748, 768]}, {"key": "acquisition-price", "type": "definition", "offset": [773, 790]}, {"key": "breach-by", "type": "clause", "offset": [842, 851]}, {"key": "representation-or-warranty", "type": "clause", "offset": [887, 913]}, {"key": "in-this-agreement", "type": "clause", "offset": [924, 941]}, {"key": "the-exhibits", "type": "definition", "offset": [953, 965]}, {"key": "with-respect-to", "type": "clause", "offset": [1083, 1098]}, {"key": "all-times", "type": "definition", "offset": [1099, 1108]}, {"key": "prior-to-the-closing-date", "type": "clause", "offset": [1109, 1134]}, {"key": "resulting-from-the", "type": "clause", "offset": [1168, 1186]}, {"key": "conduct-of-the", "type": "clause", "offset": [1215, 1229]}, {"key": "operation-of-the-business", "type": "clause", "offset": [1243, 1268]}, {"key": "the-assets", "type": "clause", "offset": [1272, 1282]}, {"key": "independent-contractors", "type": "definition", "offset": [1380, 1403]}, {"key": "seller-and-the-shareholders", "type": "clause", "offset": [1452, 1479]}, {"key": "agree-to-indemnify-and-hold-harmless", "type": "clause", "offset": [1502, 1538]}, {"key": "arising-out-of", "type": "definition", "offset": [1788, 1802]}, {"key": "relating-to", "type": "definition", "offset": [1804, 1815]}, {"key": "caused-by", "type": "clause", "offset": [1819, 1828]}, {"key": "breach-of-any", "type": "clause", "offset": [1833, 1846]}, {"key": "agreement-of-the-seller", "type": "clause", "offset": [1859, 1882]}, {"key": "a-shareholder", "type": "definition", "offset": [1886, 1899]}], "hash": "99ebcdb1d0e2b73b6644c8dfd6596077", "id": 2}, {"samples": [{"hash": "fhJYt0XHpKx", "uri": "/contracts/fhJYt0XHpKx#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Ameriking Inc)", "score": 16.0, "published": true}, {"hash": "ehvqy0KetJa", "uri": "/contracts/ehvqy0KetJa#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Ameriking Inc)", "score": 16.0, "published": true}], "size": 2, "snippet": "Seller and the Shareholders, jointly and severally, shall defend, indemnify and hold harmless Purchaser, its officers, directors, stockholders, agents, servants and employees and their respective heirs, personal and legal representatives, guardians, successors and assigns, from and against any and all claims, threats, liabilities, taxes, interest, fines, penalties, suits, actions, proceedings, demands, damages, losses, costs and expenses (including reasonable attorneys' and experts' fees and court costs) of every kind and nature arising out of, resulting from, or in connection with the following:\n8.1.1 Any material misrepresentation or breach by Seller or the Shareholders of any representation or warranty contained in this Agreement.\n8.1.2 Any material nonperformance, failure to comply or breach by Seller or the Shareholders of any covenant, promise or agreement of Seller or the Shareholders contained in this Agreement.\n8.1.3 Any debts, obligations, duties and liabilities of Seller and the Shareholders (except those assumed by Purchaser).\n8.1.4 The past or future failure of Seller to comply with any applicable Environmental Laws (as hereinafter defined) or the presence of Hazardous Materials (as hereinafter defined) in the soil or ground water on the former or present properties of Seller at the time of Closing. For purposes of this Section 8.1, the following terms shall have the meaning set forth below:", "snippet_links": [{"key": "seller-and-the-shareholders", "type": "clause", "offset": [0, 27]}, {"key": "jointly-and-severally", "type": "clause", "offset": [29, 50]}, {"key": "indemnify-and-hold-harmless", "type": "clause", "offset": [66, 93]}, {"key": "legal-representatives", "type": "clause", "offset": [216, 237]}, {"key": "successors-and-assigns", "type": "definition", "offset": [250, 272]}, {"key": "all-claims", "type": "clause", "offset": [299, 309]}, {"key": "costs-and-expenses", "type": "definition", "offset": [423, 441]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [453, 473]}, {"key": "court-costs", "type": "definition", "offset": [497, 508]}, {"key": "arising-out-of", "type": "definition", "offset": [535, 549]}, {"key": "resulting-from", "type": "definition", "offset": [551, 565]}, {"key": "in-connection-with", "type": "clause", "offset": [570, 588]}, {"key": "breach-by-seller", "type": "clause", "offset": [644, 660]}, {"key": "representation-or-warranty", "type": "clause", "offset": [688, 714]}, {"key": "in-this-agreement", "type": "clause", "offset": [725, 742]}, {"key": "failure-to-comply", "type": "definition", "offset": [779, 796]}, {"key": "agreement-of-seller", "type": "clause", "offset": [865, 884]}, {"key": "liabilities-of-seller", "type": "clause", "offset": [975, 996]}, {"key": "by-purchaser", "type": "clause", "offset": [1040, 1052]}, {"key": "failure-of-seller", "type": "clause", "offset": [1080, 1097]}, {"key": "comply-with", "type": "clause", "offset": [1101, 1112]}, {"key": "applicable-environmental-laws", "type": "clause", "offset": [1117, 1146]}, {"key": "presence-of-hazardous-materials", "type": "clause", "offset": [1179, 1210]}, {"key": "ground-water", "type": "definition", "offset": [1251, 1263]}, {"key": "time-of-closing", "type": "clause", "offset": [1317, 1332]}, {"key": "section-81", "type": "clause", "offset": [1355, 1366]}], "hash": "f35d1e004ac878a9ebdcb11da3c7d6cf", "id": 5}, {"samples": [{"hash": "gZszF3jI8LM", "uri": "/contracts/gZszF3jI8LM#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (New 360)", "score": 19.0, "published": true}, {"hash": "aAZHK9QVqNd", "uri": "/contracts/aAZHK9QVqNd#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Point 360)", "score": 19.0, "published": true}], "size": 2, "snippet": "Subject to the provisions of this Article 6, Seller and each Shareholder, individually, shall indemnify and hold harmless Buyer from and against any and all losses, damages, liabilities, costs and expenses, including, without limitation, settlement costs and reasonable legal, accounting and other expenses for investigating or defending any actions (collectively, \u201cLosses\u201d) that Buyer may incur resulting from (i) any breach of any representation or warranty of Seller or Shareholders made in this Agreement or the \u2587\u2587\u2587\u2587 of Sale, (ii) any breach of any agreement of Seller or Shareholders contained in this Agreement or the \u2587\u2587\u2587\u2587 of Sale, (iii) any violation of California\u2019s Bulk Sales Law (if applicable to this Agreement by Seller or Shareholders), (iv) any claim by a finder, broker or other intermediary representing Seller or Shareholders, directors or officers in connection with this Agreement or the transactions contemplated hereby; and (v) any liability of Seller not specifically described in Schedule 1.3 attached hereto (including, without limitation, any claim or lawsuit by any governmental agency or other person or entity that is brought against Buyer and that relates to a liability of Seller).", "snippet_links": [{"key": "article-6", "type": "definition", "offset": [34, 43]}, {"key": "indemnify-and-hold-harmless", "type": "clause", "offset": [94, 121]}, {"key": "costs-and-expenses", "type": "definition", "offset": [187, 205]}, {"key": "without-limitation", "type": "clause", "offset": [218, 236]}, {"key": "settlement-costs", "type": "definition", "offset": [238, 254]}, {"key": "other-expenses", "type": "definition", "offset": [292, 306]}, {"key": "buyer-may", "type": "definition", "offset": [380, 389]}, {"key": "resulting-from", "type": "definition", "offset": [396, 410]}, {"key": "breach-of-any", "type": "clause", "offset": [419, 432]}, {"key": "representation-or-warranty", "type": "clause", "offset": [433, 459]}, {"key": "in-this-agreement", "type": "clause", "offset": [491, 508]}, {"key": "the-\u2587", "type": "clause", "offset": [512, 517]}, {"key": "agreement-of-seller", "type": "clause", "offset": [553, 572]}, {"key": "contained-in", "type": "definition", "offset": [589, 601]}, {"key": "bulk-sales-law", "type": "clause", "offset": [674, 688]}, {"key": "to-this-agreement", "type": "clause", "offset": [704, 721]}, {"key": "by-seller", "type": "clause", "offset": [722, 731]}, {"key": "directors-or-officers", "type": "clause", "offset": [844, 865]}, {"key": "in-connection-with", "type": "clause", "offset": [866, 884]}, {"key": "agreement-or-the-transactions-contemplated-hereby", "type": "clause", "offset": [890, 939]}, {"key": "liability-of-seller", "type": "clause", "offset": [953, 972]}, {"key": "governmental-agency", "type": "definition", "offset": [1092, 1111]}, {"key": "person-or-entity", "type": "definition", "offset": [1121, 1137]}, {"key": "relates-to", "type": "definition", "offset": [1177, 1187]}], "hash": "6917e82b55216ef13efd1ccaa6e84e3e", "id": 4}, {"samples": [{"hash": "bIoNTiM8GPW", "uri": "/contracts/bIoNTiM8GPW#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Ilog Sa)", "score": 18.0, "published": true}, {"hash": "6BU6MSDQtBy", "uri": "/contracts/6BU6MSDQtBy#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Ilog Sa)", "score": 18.0, "published": true}], "size": 2, "snippet": "Subject to the remaining provisions of this Section 8.2, Seller and each Shareholder shall indemnify and hold ILOG and ILOG, U.S. harmless and ILOG or ILOG, U.S. shall indemnify and hold Seller and Shareholders harmless, from and after the Closing Date from and against any claims, demands, losses, costs, expenses, obligations, liabilities, damages, recoveries, and deficiencies, including interest, penalties and attorney's fees (\"DAMAGES\") incurred or suffered by any of them, directly or indirectly, as a result of, or arising from (i) any inaccuracy in any of the representations and warranties made herein by any of them, (ii) any breach of any covenant or agreement made herein by any of them, (iii) any Excluded Liability, and (iv) the operations of Seller, ILOG or ILOG, U.S. as the case may be prior to the Closing Date. Such indemnification shall be joint and several as among Seller and Shareholders with respect to indemnification of ILOG or ILOG, U.S., and as among ILOG and ILOG, U.S. with respect to indemnification of Seller and Shareholders.", "snippet_links": [{"key": "subject-to-the", "type": "definition", "offset": [0, 14]}, {"key": "section-82", "type": "clause", "offset": [44, 55]}, {"key": "indemnify-and-hold", "type": "clause", "offset": [91, 109]}, {"key": "seller-and-shareholders", "type": "clause", "offset": [187, 210]}, {"key": "date-from", "type": "definition", "offset": [248, 257]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [480, 502]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [565, 599]}, {"key": "breach-of-any", "type": "clause", "offset": [637, 650]}, {"key": "excluded-liability", "type": "definition", "offset": [711, 729]}, {"key": "operations-of-seller", "type": "clause", "offset": [744, 764]}, {"key": "the-case", "type": "definition", "offset": [788, 796]}, {"key": "prior-to-the-closing-date", "type": "clause", "offset": [804, 829]}, {"key": "joint-and-several", "type": "definition", "offset": [861, 878]}, {"key": "with-respect-to", "type": "clause", "offset": [912, 927]}, {"key": "indemnification-of-seller", "type": "clause", "offset": [1016, 1041]}], "hash": "7cc20bc2a02addb7323ca23234bc3f5a", "id": 6}, {"samples": [{"hash": "gAuGoP7zeaO", "uri": "/contracts/gAuGoP7zeaO#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Uti Energy Corp)", "score": 18.0, "published": true}, {"hash": "2ou6gC626td", "uri": "/contracts/2ou6gC626td#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Uti Energy Corp)", "score": 18.0, "published": true}], "size": 2, "snippet": "The Seller and the Shareholders jointly and severally agree to indemnify and save harmless the Purchaser from all Losses suffered or incurred by the Purchaser as a result of or arising directly or indirectly out of or in connection with:\n(a) any breach by the Seller of or any inaccuracy of any representation or warranty of the Seller contained in this Agreement or in any agreement, certificate or other document delivered pursuant hereto;\n(b) any breach or non-performance by the Seller of any covenant to be performed by it that is contained in this Agreement or in any agreement, certificate or other document delivered pursuant hereto;\n(c) the Excluded Liabilities or the Excluded Assets; and\n(d) the operation of the Purchased Business, or the ownership of the Purchased Assets, prior to the Time of Closing.", "snippet_links": [{"key": "seller-and-the-shareholders", "type": "clause", "offset": [4, 31]}, {"key": "jointly-and-severally", "type": "clause", "offset": [32, 53]}, {"key": "to-indemnify", "type": "clause", "offset": [60, 72]}, {"key": "save-harmless", "type": "definition", "offset": [77, 90]}, {"key": "by-the-purchaser", "type": "clause", "offset": [142, 158]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [185, 207]}, {"key": "in-connection-with", "type": "clause", "offset": [218, 236]}, {"key": "breach-by-the-seller", "type": "clause", "offset": [246, 266]}, {"key": "representation-or-warranty", "type": "clause", "offset": [295, 321]}, {"key": "of-the-seller", "type": "clause", "offset": [322, 335]}, {"key": "agreement-or", "type": "definition", "offset": [354, 366]}, {"key": "other-document", "type": "clause", "offset": [400, 414]}, {"key": "performance-by-the-seller", "type": "clause", "offset": [464, 489]}, {"key": "covenant-to", "type": "clause", "offset": [497, 508]}, {"key": "performed-by", "type": "clause", "offset": [512, 524]}, {"key": "excluded-liabilities", "type": "definition", "offset": [650, 670]}, {"key": "the-excluded-assets", "type": "clause", "offset": [674, 693]}, {"key": "operation-of-the", "type": "clause", "offset": [707, 723]}, {"key": "purchased-business", "type": "definition", "offset": [724, 742]}, {"key": "ownership-of-the-purchased-assets", "type": "clause", "offset": [751, 784]}, {"key": "prior-to-the", "type": "clause", "offset": [786, 798]}, {"key": "time-of-closing", "type": "clause", "offset": [799, 814]}], "hash": "092ed5a070c5fa54962c6f9262ad50fe", "id": 7}, {"samples": [{"hash": "fOLLYmojaDX", "uri": "/contracts/fOLLYmojaDX#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Fiberstars Inc /Ca/)", "score": 16.0, "published": true}, {"hash": "5IaWJYCYHce", "uri": "/contracts/5IaWJYCYHce#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Fiberstars Inc /Ca/)", "score": 16.0, "published": true}], "size": 2, "snippet": "Subject to the limitations set forth in this Article V, Seller and Shareholders, jointly and severally, will defend, indemnify, and hold harmless Buyer and its respective officers, directors, agents and employees, and each person, if any, who controls or may control Buyer within the meaning of the Securities Act (individually, an \"Indemnified Person\" and collectively, \"Indemnified Persons\"), and shall reimburse Indemnified Persons, for, from and against any and all losses (which shall include any diminution in value), costs, damages, liabilities and expenses arising from claims, demands, actions and causes of action, including, without limitation, reasonable legal fees, (collectively, \"Damages\") arising out of (i) any misrepresentation or breach of or default in connection with any of the representations, warranties, covenants and agreements given or made by Seller or Shareholders in this Agreement, or any exhibit or other schedule to this Agreement, or (ii) transactions, events, acts or omissions of or by Seller or Shareholders relating to the Seller's Business on or before the Closing.", "snippet_links": [{"key": "subject-to-the", "type": "definition", "offset": [0, 14]}, {"key": "article-v", "type": "definition", "offset": [45, 54]}, {"key": "seller-and-shareholders", "type": "clause", "offset": [56, 79]}, {"key": "jointly-and-severally", "type": "clause", "offset": [81, 102]}, {"key": "hold-harmless", "type": "clause", "offset": [132, 145]}, {"key": "agents-and-employees", "type": "clause", "offset": [192, 212]}, {"key": "each-person", "type": "clause", "offset": [218, 229]}, {"key": "meaning-of", "type": "clause", "offset": [284, 294]}, {"key": "the-securities-act", "type": "clause", "offset": [295, 313]}, {"key": "indemnified-persons", "type": "clause", "offset": [372, 391]}, {"key": "diminution-in-value", "type": "definition", "offset": [502, 521]}, {"key": "liabilities-and-expenses", "type": "clause", "offset": [540, 564]}, {"key": "causes-of-action", "type": "clause", "offset": [607, 623]}, {"key": "without-limitation", "type": "clause", "offset": [636, 654]}, {"key": "reasonable-legal-fees", "type": "clause", "offset": [656, 677]}, {"key": "arising-out-of", "type": "definition", "offset": [705, 719]}, {"key": "breach-of", "type": "definition", "offset": [749, 758]}, {"key": "in-connection-with", "type": "clause", "offset": [770, 788]}, {"key": "covenants-and-agreements", "type": "clause", "offset": [829, 853]}, {"key": "by-seller", "type": "clause", "offset": [868, 877]}, {"key": "in-this-agreement", "type": "clause", "offset": [894, 911]}, {"key": "to-this-agreement", "type": "clause", "offset": [946, 963]}, {"key": "acts-or-omissions", "type": "definition", "offset": [995, 1012]}, {"key": "to-the-seller", "type": "definition", "offset": [1054, 1067]}, {"key": "before-the-closing", "type": "clause", "offset": [1085, 1103]}], "hash": "a3497f025847c50d9532aab2403dc46b", "id": 8}, {"samples": [{"hash": "ecW9BZ86EqJ", "uri": "/contracts/ecW9BZ86EqJ#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Nn Ball & Roller Inc)", "score": 18.0, "published": true}, {"hash": "4TFOgYH0n4x", "uri": "/contracts/4TFOgYH0n4x#indemnification-by-seller-and-shareholders", "label": "Asset Purchase Agreement (Nn Ball & Roller Inc)", "score": 18.0, "published": true}], "size": 2, "snippet": "33 12.03 SURVIVAL OF BUYER'S AND PARENT'S REPRESENTATIONS...........33 12.04", "snippet_links": [{"key": "of-buyer", "type": "clause", "offset": [18, 26]}], "hash": "66da7828cfca22ef51273f320178173f", "id": 9}, {"samples": [{"hash": "QL1urPmp5S", "uri": "/contracts/QL1urPmp5S#indemnification-by-seller-and-shareholders", "label": "Purchase Option Agreement (Nautilus, Inc.)", "score": 21.0, "published": true}], "size": 2, "snippet": "Seller and Shareholders hereby, jointly and severally agree to indemnify and hold each of Nautilus and Buyer harmless at all times as set forth below from and after the Closing Date against and in respect of all matters in connection with the following:\n8.1.1 From and after the Closing Date, all the liabilities of Seller arising out of or in connection with the Business (including, without limitation, liabilities for taxes or in connection with the termination of employees of the Business), and all suits, proceedings, demands, assessments, judgments, costs, attorneys' fees and expenses incident to any matters relating to the such liabilities of Seller and arising out of or in connection with the Business prior to the Closing Date, including those out-of-pocket costs, charges and expenses in respect of the participation of officers and employees of Nautilus or Buyer after the Closing Date in the defense thereof; and\n8.1.2 From and after the Closing Date, any losses, liabilities, damages or deficiencies incurred by either Nautilus or Buyer resulting from any misrepresentation or breach of warranty under Chapter 3 of this Agreement or non-fulfillment of any agreement or covenant on the part of Seller or a Shareholder under this Agreement, or from any certificate or other instrument furnished or to be furnished by Seller or a Shareholder hereunder, and all suits, actions, proceedings, demands, assessments, judgments, costs, attorneys' fees and expenses incident to any of the foregoing matters, including those out-of-pocket costs, charges and expenses in respect of the participation of officers and employees of Nautilus or Buyer after the Closing Date in defense thereof.", "snippet_links": [{"key": "seller-and-shareholders", "type": "clause", "offset": [0, 23]}, {"key": "jointly-and-severally", "type": "clause", "offset": [32, 53]}, {"key": "indemnify-and-hold", "type": "clause", "offset": [63, 81]}, {"key": "at-all-times", "type": "definition", "offset": [118, 130]}, {"key": "from-and-after-the-closing-date", "type": "clause", "offset": [150, 181]}, {"key": "in-respect-of", "type": "clause", "offset": [194, 207]}, {"key": "in-connection-with", "type": "clause", "offset": [220, 238]}, {"key": "liabilities-of-seller", "type": "clause", "offset": [301, 322]}, {"key": "arising-out-of", "type": "definition", "offset": [323, 337]}, {"key": "without-limitation", "type": "clause", "offset": [385, 403]}, {"key": "liabilities-for-taxes", "type": "clause", "offset": [405, 426]}, {"key": "employees-of-the-business", "type": "clause", "offset": [468, 493]}, {"key": "fees-and-expenses", "type": "definition", "offset": [575, 592]}, {"key": "incident-to", "type": "definition", "offset": [593, 604]}, {"key": "relating-to", "type": "definition", "offset": [617, 628]}, {"key": "prior-to-the-closing-date", "type": "clause", "offset": [714, 739]}, {"key": "charges-and-expenses", "type": "clause", "offset": [778, 798]}, {"key": "the-participation", "type": "clause", "offset": [813, 830]}, {"key": "officers-and-employees", "type": "clause", "offset": [834, 856]}, {"key": "resulting-from", "type": "definition", "offset": [1054, 1068]}, {"key": "misrepresentation-or-breach-of-warranty", "type": "clause", "offset": [1073, 1112]}, {"key": "chapter-3", "type": "definition", "offset": [1119, 1128]}, {"key": "agreement-or", "type": "definition", "offset": [1137, 1149]}, {"key": "a-shareholder", "type": "definition", "offset": [1220, 1233]}, {"key": "by-seller", "type": "clause", "offset": [1329, 1338]}, {"key": "the-foregoing", "type": "definition", "offset": [1492, 1505]}], "hash": "a25038b27929cbc79e634287e4a74f46", "id": 10}], "next_curs": "CnMSbWoVc35sYXdpbnNpZGVyY29udHJhY3Rzck8LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IjNpbmRlbW5pZmljYXRpb24tYnktc2VsbGVyLWFuZC1zaGFyZWhvbGRlcnMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 85, "parents": [["indemnification", "Indemnification"], ["indemnification-remedies", "Indemnification Remedies"], ["nature-and-survival-of-representations-and-warranties-indemnification", "Nature and Survival of Representations and Warranties Indemnification"], ["miscellaneous", "Miscellaneous"], ["counterparts", "Counterparts"]], "children": [["pre-closing-liabilities", "Pre-Closing Liabilities"], ["breach-of-covenant-or-agreement", "Breach of Covenant or Agreement"], ["excluded-obligations-and-liabilities", "Excluded Obligations and Liabilities"], ["misrepresentation-or-breach-of-warranty", "Misrepresentation or Breach of Warranty"], ["basket", "Basket"]], "title": "Indemnification by Seller and Shareholders", "id": "indemnification-by-seller-and-shareholders", "related": [["indemnification-by-sellers", "Indemnification by Sellers", "Indemnification by Sellers"], ["indemnification-by-shareholders", "Indemnification by Shareholders", "Indemnification by Shareholders"], ["indemnification-by-seller", "Indemnification by Seller", "Indemnification by Seller"], ["indemnification-by-buyers", "Indemnification by Buyers", "Indemnification by Buyers"], ["indemnification-by-purchasers", "Indemnification by Purchasers", "Indemnification by Purchasers"]], "related_snippets": [], "updated": "2025-07-07T12:36:18+00:00", "also_ask": ["What limitations on indemnity scope and duration are essential to negotiate for the buyer?", "How should the clause allocate liability between Seller and Shareholders to avoid enforcement gaps?", "What are the most common carve-outs or exceptions that could undermine buyer protection?", "How do courts typically interpret ambiguous indemnification language in M&A deals?", "What are the key differences in indemnification standards between jurisdictions relevant to this transaction?"], "drafting_tip": "Specify indemnified parties and covered losses to avoid ambiguity; set clear time limits for claims to ensure enforceability; allocate liability caps to balance risk.", "explanation": "The \"Indemnification by Seller and Shareholders\" clause requires the seller and, in some cases, the shareholders to compensate the buyer for losses or damages arising from breaches of representations, warranties, or covenants made in the agreement. Typically, this means that if the buyer incurs costs due to undisclosed liabilities, legal claims, or other contract violations attributable to the seller or shareholders, they are entitled to reimbursement. This clause serves to allocate risk by holding the seller and shareholders financially responsible for certain post-closing issues, thereby protecting the buyer from unforeseen liabilities."}, "json": true, "cursor": ""}}