Tax Indemnification Procedures. (a) If a claim (“Tax Indemnified Claim”) shall be made by any Taxing Authority that, if successful, would result in the indemnification of a Party under this Agreement (referred to herein as the “Tax Indemnified Party”), the Tax Indemnified Party shall promptly notify the party obligated under this Agreement to so indemnify (referred to herein as the “Tax Indemnifying Party”) in writing of such fact.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Penn Octane Corp), Purchase and Sale Agreement (Penn Octane Corp), Purchase and Sale Agreement (Rio Vista Energy Partners Lp)
Tax Indemnification Procedures. (a) If a claim (“"Tax Indemnified Claim”") shall be made by any Taxing Authority that, if successful, would result in the indemnification of a Party under this Agreement (referred to herein as the “"Tax Indemnified Party”"), the Tax Indemnified Party shall promptly notify the party obligated under this Agreement to so indemnify (referred to herein as the “"Tax Indemnifying Party”") in writing of such fact.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Penn Octane Corp), Purchase and Sale Agreement (Rio Vista Energy Partners Lp)
Tax Indemnification Procedures. (a) If a claim (“Tax Indemnified Claim”) shall be made by any Taxing Authority taxing authority that, if successful, would result in the indemnification of a Party under Section 10.1 of this Agreement (referred to herein as the “Tax Indemnified PartyPerson”), the Tax Indemnified Party shall Person shall, upon receiving notice of such claim, promptly notify the party Party obligated under this Agreement to so indemnify (referred to herein as the “Tax Indemnifying PartyPerson”) in writing of such fact.
Appears in 1 contract
Tax Indemnification Procedures. (a) If a claim (“Tax Indemnified Claim”) shall be made by any Taxing Authority Tax authority that, if successful, would result in the indemnification of a Party under this Agreement (referred to herein as the “Tax Indemnified Party”"TAX INDEMNIFIED PARTY"), the Tax Indemnified Party shall promptly notify the party obligated under this Agreement to so indemnify (referred to herein as the “Tax Indemnifying Party”"TAX INDEMNIFYING PARTY") in writing of such fact.
Appears in 1 contract
Tax Indemnification Procedures. (a) If a claim (“Tax Indemnified Claim”) shall be made by any Taxing Authority that, if successful, would result in the indemnification of a Party under this Agreement (referred to herein as the “"Tax Indemnified Claim" and the "Tax Indemnified Party”", respectively), the Tax Indemnified Party shall promptly notify the party Party obligated under this Agreement to so indemnify (referred to herein as the “"Tax Indemnifying Party”") in writing of such fact.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Public Service Co of New Mexico)
