Indemnifying Securityholders definition
Examples of Indemnifying Securityholders in a sentence
Any action taken by, or notice or instruction received from, the Securityholders’ Representative will be deemed to be action by, or notice or instruction from, each and all of the Indemnifying Securityholders.
Any notice to be given to any Indemnifying Securityholders under this Agreement shall be given to the Securityholders’ Representative or, if for any reason there ceases to be a Securityholders’ Representative, to each Indemnifying Securityholder.
Neither the Escrow Fund (including any portion thereof) nor any beneficial interest therein, may be pledged, subjected to any Lien, sold, assigned, or transferred, by any Indemnifying Securityholder, or be taken or reached by any legal or equitable process in satisfaction of any debt or other Liability of any Indemnifying Securityholder, in each case prior to the distribution of the Escrow Fund to the Indemnifying Securityholders in accordance with this Section 10.8.
The Indemnifying Securityholders shall severally (but not jointly) indemnify the Securityholders’ Representative and hold the Securityholders’ Representative harmless against any Damages incurred without negligence or bad faith on the part of the Securityholders’ Representative and arising out of or in connection with the acceptance or administration of the Securityholders’ Representative’s duties under this Agreement.
The Indemnifying Securityholders, the Securityholders’ Representative, and Parent agree to treat (and cause their Affiliates to treat) any payments received pursuant to Section 10 as adjustments to the Merger Consideration for all Tax purposes, unless otherwise required by any Legal Requirements.