Business Representations definition
Examples of Business Representations in a sentence
Any Claim by an Acquirer Indemnified Person which directly results from any misrepresentation or inaccuracy in, or breach of the Promoter Seller Representations or the Business Representations shall first be made against the then remaining portion of the Indemnity Retention Amount before a Claim is made against the Promoter Sellers directly.
Notwithstanding anything to the contrary contained herein or in any other Document, if the Closing of the transactions hereunder shall have occurred, Transferor shall have no Liability to Transferee for the breach of the Business Representations in excess of, individually or in the aggregate, $4,000,000.00 (the “Business Representations Damage Cap”).
For the avoidance of doubt, the Promoter Seller Indemnifying Persons agree and acknowledge that the Acquirer Indemnified Persons shall be entitled to recourse from the Indemnity Retention Amount notwithstanding that a Claim directly results from any misrepresentation or inaccuracy in, or breach of the Promoter Seller Representations or the Business Representations.
As used herein, the following terms shall have the meanings defined in the recitals or sections indicated below: Access Indemnified Parties Section 3.01(b) Agreement Preamble Business Representations Introductory paragraph to Article VIII Business Representations Damage Cap Section 12.05 Closing Section 11.01 Closing Date Section 3.03 Closing Statement Section 11.02(a)(v) Company Recital B Conn.
Transferee shall not enter any judgment or collect an amount hereunder in excess of the Business Representations Damage Cap.