Common use of Procedures for Claims Clause in Contracts

Procedures for Claims. Subject to Section 17.3, any Indemnified Party shall provide written notice of any Eligible Claim to the party from which it seeks indemnification (the "Indemnifying Party") within thirty (30) days of such party becoming aware of the existence of such Eligible Claim stating the amount claimed to be due and payable or an estimate of the claim if contingent or unliquidated, the basis of the claim and the provision or provisions of this Agreement under which such claim is asserted. Within 30 calendar days after receipt of such notice, the Indemnifying Party shall by written notice to the Indemnified Party either (a) concede liability in whole as to the amount claimed in such notice, (b) deny liability in whole as to such amount, or (c) concede liability in part and deny liability in part. If the parties are not able to resolve any dispute over a claim brought under this Section 17 within thirty (30) days after the Indemnified Party receives written notice from the Indemnifying Party denying liability in whole or in part, the parties shall submit dispute to the dispute resolution procedure set forth in the Section 21.10.

Appears in 1 contract

Samples: Transition Services Agreement (Oxford Automotive Inc)

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Procedures for Claims. Subject to Section 17.319.3, any Indemnified Party shall provide written notice of any Eligible Claim to the party Party from which it seeks indemnification (the "Indemnifying Party") within thirty (30) 30 days of such party Party becoming aware of the existence of such Eligible Claim stating the amount claimed to be due and payable or an estimate of the claim if contingent or unliquidated, the basis of the claim and the provision or provisions of this Agreement under which such claim is asserted. Within 30 calendar days after receipt of such notice, the Indemnifying Party shall by written notice to the Indemnified Party either (a) concede liability in whole as to the amount claimed in such notice, (b) deny liability in whole as to such amount, or (c) concede liability in part and deny liability in part. If the parties Parties are not able to resolve any dispute over a claim brought under this Section 17 Article 19 within thirty (30) 30 days after the Indemnified Party receives written notice from the Indemnifying Party denying liability in whole or in part, the parties Parties shall submit the dispute to the dispute resolution procedure set forth in the Section 21.10Article 22.

Appears in 1 contract

Samples: Asset Purchase Agreement (Transtechnology Corp)

Procedures for Claims. Subject to Section 17.3, any Any Indemnified Party shall provide written notice (the “Claim Notice”) of any Eligible Claim Indemnified Losses to the party from which it seeks indemnification (the "Indemnifying Party") within thirty fifteen (3015) days of such party becoming aware of the existence of such Eligible Claim Indemnified Losses stating the amount claimed to be due and payable or an estimate of the claim if contingent or unliquidated, the basis of the claim and the provision or provisions of this Agreement under which such claim is asserted. Within 30 fifteen (15) calendar days after receipt of such noticethe Claim Notice, the Indemnifying Party shall by written notice (the “Response Notice”) to the Indemnified Party either (a) concede liability in whole as to the amount claimed in such notice, (b) deny liability in whole as to such amount, or (c) concede liability in part and deny liability in part. If the parties are not able to resolve any dispute over a claim brought under this Section 17 Article 13 within thirty fifteen (3015) days after the Indemnified Party receives written notice from the Indemnifying Party receipt of a Response Notice denying liability in whole or in part, the parties Parties shall submit the dispute to the dispute resolution procedure set forth a state or federal court (in the accordance with Section 21.1019.11 below).

Appears in 1 contract

Samples: Asset Purchase Agreement (Youthstream Media Networks Inc)

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Procedures for Claims. Subject to Section 17.319.3, any Indemnified Party shall provide written notice of any Eligible Claim to the party Party from which it seeks indemnification (the "Indemnifying Party") within thirty (30) days of such party Party becoming aware of the existence of such Eligible Claim stating the amount claimed to be due and payable or an estimate of the claim Eligible Claim if contingent or unliquidated, a detailed statement of the basis of the claim Eligible Claim and the provision or provisions of this Agreement under which such claim Eligible Claim is asserted. Within 30 thirty (30) calendar days after receipt of such notice, the Indemnifying Party shall by written notice to the Indemnified Party either (a) concede liability in whole as to the amount claimed in such notice, (b) deny liability in whole as to such amount, or (c) concede liability in part and deny liability in part. If the parties Parties are not able to resolve any dispute over a claim brought under this Section 17 Article 19 within thirty (30) 30 days after the Indemnified Party receives written notice from the Indemnifying Party denying liability in whole or in part, the parties Parties shall submit the dispute to the dispute resolution procedure set forth in the Section 21.10Article 22.

Appears in 1 contract

Samples: Purchase Agreement (Optex Systems Holdings Inc)

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