Common use of Subsidy Requirements Clause in Contracts

Subsidy Requirements. Seller hereby undertakes vis-à-vis the Purchaser and by way of an agreement in favor of a third party pursuant to section 328 German Civil Code (Vertrag zugunsten Dritter im Sinne von § 328 BGB) vis-à-vis the Target to indemnify the Target against, and hold it harmless from, any repayment amounts (including any interest, applicable charges and costs related thereto) due and payable after Closing due to non-fulfillment, between 2 September 2013 and the Closing Date, of the requirements of the subsidy granted to the Target in the amount of EUR 612,000.00 by Regierung von Oberfranken.