Common use of Claim Notice Clause in Contracts

Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (“Claim Notice”) to the other Party (“Indemnifying Party”) which, to be effective, must state: (1) the Indemnified Party’s good faith estimate of the amount claimed by such Indemnified Party to be owing, (2) the basis for such claim, with supporting documentation, if available, and (3) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Party. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement within 30 days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Earthstone Energy Inc), Purchase and Sale Agreement (Earthstone Energy Inc)

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Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (“Claim Notice”) to the other Party (“Indemnifying Party”) which, to be effective, must be delivered prior to the end of the Survival Period and must state: (1A) to the Indemnified Party’s good faith estimate of extent reasonably possible the amount of each payment claimed by such an Indemnified Party to be owing, ; (2B) to the extent reasonably possible the basis for such claim, with supporting documentation, if available, ; and (3C) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally establishedestablished as provided in Subsection 15.4(c), whichever last occurs.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Legacy Reserves Lp)

Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (“Claim Notice”) to the other Party (“Indemnifying Party”) which, to be effective, must be delivered prior to the end of the Survival Period and must state: (1i) the Indemnified Party’s good faith estimate amount of the amount each payment claimed by such an Indemnified Party to be owing, (2ii) the basis for such claim, with reasonably available supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 twenty (20) days after receipt of the Claim Notice, or after the amount of such payment has been finally establishedestablished as provided in Section 16.3(c), whichever last occurs.

Appears in 2 contracts

Samples: Contribution Agreement, Contribution Agreement (Delta Petroleum Corp/Co)

Claim Notice. The Party party seeking indemnification under the terms of this Agreement (“Indemnified Party”"INDEMNIFIED PARTY") shall submit a written notice (“Claim Notice”) "CLAIM NOTICE" to the other Party party (“Indemnifying Party”"INDEMNIFYING PARTY") which, to be effective, must state: (1i) the Indemnified Party’s good faith estimate amount (if known) of the amount each payment claimed by such an Indemnified Party to be owing, (2ii) the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 ten (10) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Williams Companies Inc)

Claim Notice. The Party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written notice (“Claim Notice”) to the other Party (the “Indemnifying Party”) which, to be effective, must state: (1i) the Indemnified Party’s good faith estimate of if then liquidated, the amount of each payment claimed by such an Indemnified Party to be owing, (2ii) the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 10 days after the later of (x) receipt of the Claim Notice, or after Notice and (y) the date that the amount of such payment has been finally established, whichever last occursestablished by mutual agreement of the Parties or final judgment of a court of competent jurisdiction.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Gasco Energy Inc)

Claim Notice. The Party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written notice (a “Claim Notice”) to the other Party (the “Indemnifying Party”) which, to be effective, must state: (1) the Indemnified Party’s good faith estimate amount of the amount each payment claimed by such an Indemnified Party to be owing, to the extent then quantifiable; (2) the basis for such claim, with supporting documentation, if available, ; and (3) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the such Indemnifying Party to as and to, and only to, the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, Notice or after the amount of such payment has been finally established, whichever last occurs.

Appears in 1 contract

Samples: Stock and Membership Interest Purchase Agreement

Claim Notice. The Party seeking indemnification under the terms of this Agreement ("Indemnified Party") shall submit a written notice (“"Claim Notice”) " to the other Party ("Indemnifying Party") which, to be effective, must be delivered prior to the end of the applicable Survival Period and must state: (1i) to the Indemnified Party’s good faith estimate of extent reasonably possible the amount of each payment claimed by such an Indemnified Party to be owing, (2ii) to the extent reasonably possible the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally establishedestablished as provided in Section 14.3(b), whichever last occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Empire Petroleum Corp)

Claim Notice. The Party party seeking indemnification under the terms of this Agreement (the “Indemnified Party”) shall submit a written notice (a “Claim Notice”) to the other Party party (the “Indemnifying Party”) which, to be effective, must state: (1i) the Indemnified Party’s good faith estimate amount of the amount each payment claimed by such an Indemnified Party to be owing, to the extent then quantifiable; (2ii) the basis for such claim, with supporting documentation, if available, ; and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the such Indemnifying Party to as and to, and only to, the extent required in this Agreement herein within 30 days after receipt of the Claim Notice, Notice or after the amount of such payment has been finally established, whichever last occurs.

Appears in 1 contract

Samples: Asset Purchase and Sale Agreement (Plains Exploration & Production Co)

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Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (“Claim Notice”) to the other Party (“Indemnifying Party”) which, to be effective, must be delivered prior to the end of the Survival Period and must state: (1i) the Indemnified Party’s good faith estimate amount of the amount each payment claimed by such an Indemnified Party to be owing, (2ii) the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Claim Notice. The Party seeking indemnification under the terms of this Agreement ("Indemnified Party") shall submit a written notice (“"Claim Notice”) " to the other Party ("Indemnifying Party") which, to be effective, must be delivered prior to the end of the Survival Period and must state: (1i) to the Indemnified Party’s good faith estimate of extent reasonably possible the amount of each payment claimed by such an Indemnified Party to be owing, (2ii) to the extent reasonably possible the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally establishedestablished as provided in 14.4(c), whichever last occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Empire Petroleum Corp)

Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (a “Claim Notice”) to the other Party (“Indemnifying Party”) which, to be effective, must be delivered prior to the end of the Survival Period and must state: (1i) the Indemnified Party’s good faith estimate amount of the amount each payment claimed by such an Indemnified Party to be owing, (2ii) the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Delta Petroleum Corp/Co)

Claim Notice. The Party seeking indemnification under the terms of this Agreement (“Indemnified Party”) shall submit a written notice (“Claim Notice”) to the other Party (“Indemnifying Party”) which, to be effective, must be delivered prior to the end of the Survival Period and must state: (1i) to the Indemnified Party’s good faith estimate of extent reasonably possible the amount of each payment claimed by such an Indemnified Party to be owing, (2ii) to the extent reasonably possible the basis for such claim, with supporting documentation, if available, and (3iii) a list identifying to the extent reasonably possible each separate item of Loss for which payment is so claimed to such Indemnified Partyclaimed. The amount claimed shall be paid by the Indemnifying Party to the extent required in this Agreement herein within 30 thirty (30) days after receipt of the Claim Notice, or after the amount of such payment has been finally established, whichever last occurs.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Petroleum Development Corp)

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