Common use of Special Indemnities Clause in Contracts

Special Indemnities. 7.1 The Seller shall indemnify and hold harmless the Purchaser on a EUR per EUR basis in respect of any and all Losses suffered by the Company and/or the Purchaser in connection with the following (the “Special Indemnities”): (i) any Leakage Claim, in respect of which the provisions of Clauses 7.2 and 7.3 below shall apply; (ii) the [*] Claim in respect of which the provisions of Clause 7.5 will apply; (iii) any breach by the Seller of any Fundamental Warranties, in respect of which the provisions of Clause 7.4 below shall apply; and provided that, for the sake of clarity, the Seller’s indemnification obligations referred to in this Clause 7.1 will not be subject to any limitations under Clause 8 below and the Purchaser shall have a direct right of recourse against the Seller in relation to the Special Indemnities. For the avoidance of doubt, the amount of any Loss to be indemnified by the Seller hereunder shall not be subject to any of the monetary limitations set out in Clause 8.4 nor count against such figures.

Appears in 2 contracts

Sources: Sale and Purchase Agreement, Sale and Purchase Agreement (Shiloh Industries Inc)

Special Indemnities. 7.1 The Seller shall indemnify and hold harmless the Purchaser on a EUR per EUR basis in respect of any and all Losses suffered by the Company and/or the Purchaser in connection with the following (the “Special Indemnities”): (i) any Leakage Claim, in respect of which the provisions of Clauses 7.2 and 7.3 below shall apply; (ii) the [*] Claim in respect of which the provisions of Clause 7.5 will apply; (iii) any breach by the Seller of any Fundamental Warranties, in respect of which the provisions of Clause 7.4 below shall apply; (iii) the [*] Claim in respect of which the provisions of Clause 7.6 shall apply; and (iv) the [*] Claim in respect of which the provisions of Clause 7.5 shall apply; and provided that, for the sake of clarity, the Seller’s indemnification obligations referred to in this Clause 7.1 will not be subject to any limitations under Clause 8 below and the Purchaser shall have a direct right of recourse against the Seller in relation to the Special Indemnities. For the avoidance of doubt, the amount of any Loss to be indemnified by the Seller hereunder shall not be subject to any of the monetary limitations set out in Clause 8.4 nor count against such figures.

Appears in 1 contract

Sources: Sale and Purchase Agreement (Shiloh Industries Inc)