Common use of Claims by a Party Clause in Contracts

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection (1) above) pursuant to this Article will be made as follows: the indemnified party will give written notice to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, of any claim by the indemnified party which has not been made pursuant to subsection (1) above, stating with reasonable specificity the nature of such claim and the amount thereof, to the extent known. The claim will be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) if within thirty (30) days after the indemnifying party's receipt of the claim the indemnified party will not have received written objection to the claim. In such event, the claim will be conclusively presumed to have been assented to and approved. If within the aforesaid thirty (30)-day period the indemnified party will have received written objection to a claim (which written objection will briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the dispute, the unresolved issue or issues will be settled by a court of competent jurisdiction located in Nashville, Tennessee.

Appears in 2 contracts

Samples: Capital Contribution Agreement (Dynamic Associates Inc), Capital Contribution Agreement (Dynamic Associates Inc)

AutoNDA by SimpleDocs

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection section (1a) above) pursuant to this Article will Section shall be made as follows: the The indemnified party will shall give written notice within a reasonably prompt period of time to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, party of any claim by the indemnified party which has not been made pursuant to subsection (1a) above, stating with reasonable specificity the nature and basis of such claim and the amount thereof, to the extent known. The claim will shall be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) paragraph if within thirty forty-five (3045) days after the indemnifying party's ’s receipt of the claim the indemnified party will shall not have received written objection to the claim. In such event, the claim will shall be conclusively presumed to have been assented to and approved. If within the aforesaid thirty forty-five (30)-day 45) day period the indemnified party will shall have received written objection to a claim (which written objection will shall briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will shall attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the dispute, the unresolved issue or issues will be settled by a court of competent jurisdiction located in Nashville, Tennessee.

Appears in 2 contracts

Samples: Share Purchase and Exchange Agreement (Manchester Inc), Share Purchase and Exchange Agreement (Manchester Inc)

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection (1) above) pursuant to this Article will be made as follows: the indemnified party will give written notice to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, of any claim by the indemnified party which has not been made pursuant to subsection (1) above, stating with reasonable specificity the nature of such claim and the amount thereof, to the extent known. The claim will be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) if within thirty (30) days after the indemnifying party's receipt of the claim the indemnified party will not have received written objection to the claim. In such event, the claim will be conclusively presumed to have been assented to and approved. If within the aforesaid thirty (30)-day 30) day period the indemnified party will have received written objection to a claim (which written objection will briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the dispute, the unresolved issue or issues will be settled by a court of competent jurisdiction located in Nashville, Tennessee.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Dynamic Associates Inc), Agreement and Plan of Merger (Dynamic Associates Inc)

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection section (1a) above) pursuant to this Article will Section shall be made as follows: the The indemnified party will shall give written notice within a reasonably prompt period of time to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, party of any claim by the indemnified party which has not been made pursuant to subsection (1a) above, stating with reasonable specificity the nature and basis of such claim and the amount thereof, to the extent known. The claim will shall be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) paragraph if within thirty forty-five (3045) days after the indemnifying party's ’s receipt of the claim the indemnified party will shall not have received written objection to the claim. In such event, the claim will shall be conclusively presumed to have been assented to and approved. If within the aforesaid thirty forty-five (30)-day 45) day period the indemnified party will shall have received written objection to a claim (which written objection will shall briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will shall attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the disputedisputed claim, the unresolved issue or issues will shall be settled by a court arbitration in New York, New York in accordance with the rules and procedures of competent jurisdiction located in Nashville, Tennesseethe American Arbitration Association and New York law will govern without reference to its choice of law provision.

Appears in 2 contracts

Samples: Share Exchange Agreement (Newlook Industries Corp.), Share Exchange Agreement (Midland International CORP)

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection subparagraph (1) above) pursuant to this Article will shall be made as follows: the The indemnified party will shall give written notice within a reasonably prompt period of time to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, party of any claim by the indemnified party which has not been made pursuant to subsection subparagraph (1) above, stating with reasonable specificity the nature and basis of such claim and the amount thereof, to the extent known. The claim will shall be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) paragraph if within thirty forty-five (3045) days after the indemnifying party's receipt of the claim the indemnified party will shall not have received written objection to the claim. In such event, the claim will shall be conclusively presumed to have been assented to and approved. If within the aforesaid thirty forty-five (30)-day 45) day period the indemnified party will shall have received written objection to a claim (which written objection will shall briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will shall attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the disputedisputed claim, the unresolved issue or issues will shall be settled by a court of competent jurisdiction located arbitration in Nashville, TennesseeTennessee in accordance with the rules and procedures of the American Arbitration Association.

Appears in 2 contracts

Samples: Stock Purchase Agreement (American Homepatient Inc), Stock Purchase Agreement (American Homepatient Inc)

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection subparagraph (1) above) pursuant to this Article will be made as follows: the The indemnified party will give written notice to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, of any claim by the indemnified party which has not been made pursuant to subsection subparagraph (1) above, stating with reasonable specificity the nature of such claim and the amount thereof, to the extent known. The claim will be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) paragraph if within thirty (30) days after the indemnifying party's receipt of the claim the indemnified party will not have received written objection to the claim. In such event, the claim will be conclusively presumed to have been assented to and approved. If within the aforesaid thirty (30)-day 30) day period the indemnified party will have received written objection to a claim (which written objection will briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the disputedisputed claim, the indemnified party shall have the right to pursue any remedy available to it in resolution of such dispute or unresolved issue or issues will be settled by a court of competent jurisdiction located in Nashville, Tennesseeissues.

Appears in 1 contract

Samples: Asset Purchase Agreement (American Homepatient Inc)

AutoNDA by SimpleDocs

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection (1subparagraph 14.4(1) above) pursuant to this Article XIV will be made as follows: the indemnified party The Indemnified Party will give written notice to the indemnifying partyIndemnifying Party, within such time as not to prejudice unduly the indemnifying partyIndemnifying Party's ability to defend against the underlying claim, of any claim by the indemnified party Indemnified Party which has not been made pursuant to subsection subparagraph (1) above, stating with reasonable specificity the nature and basis of such claim and the amount thereof, to the extent known. The claim will be deemed to have resulted in a determination in favor of the indemnified party Indemnified Party and to have resulted in a liability of the indemnifying party Indemnifying Party in an amount equal to the amount of such claim estimated pursuant to this clause (2) paragraph if within thirty (30) days after the indemnifying partyIndemnifying Party's receipt of the claim the indemnified party Indemnified Party will not have received written objection to the claim. In such event, the claim will be conclusively presumed to have been assented to and approved. If within the aforesaid thirty (30)-day 30) day period the indemnified party Indemnified Party will have received written objection to a claim (which written objection will briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the disputedisputed claim, the unresolved issue or issues will be settled by arbitration in a court location mutually acceptable to each party, in accordance with the rules and procedures of competent jurisdiction located in Nashville, Tennesseethe American Arbitration Association.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Childrens Comprehensive Services Inc)

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection subparagraph (1) above) pursuant to this Article will be made as follows: the The indemnified party will give written notice (which written notice will briefly describe the basis of the claim and the amount thereof) to the indemnifying party, within such time as not to materially prejudice unduly the indemnifying party's ability to defend against the underlying claim, of any claim by the indemnified party which has not been made pursuant to subsection subparagraph (1) above, stating with reasonable specificity the nature and basis of such claim and the amount thereof, to the extent known. The claim will be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) Section if within thirty (30) days after the indemnifying party's receipt of the claim the indemnified party will not have received written objection to the claim. In such event, the claim will be conclusively presumed to have been assented to and approved. If within the aforesaid thirty (30)-day 30) day period the indemnified party will have received written objection to a claim (which written objection will briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle Notwithstanding the disputeprovisions of this clause (2), the unresolved issue or issues enforcement provisions set forth in Section 11.2 will be settled by available in the event of a court breach of competent jurisdiction located in Nashville, TennesseeSection 11.1.

Appears in 1 contract

Samples: Stock Purchase Agreement (American Homepatient Inc)

Claims by a Party. The determination of a claim asserted by a party hereunder (other than as set forth in subsection (1) above) pursuant to this Article will be made as follows: the indemnified party will give written notice to the indemnifying party, within such time as not to prejudice unduly the indemnifying party's ability to defend against the underlying claim, of any claim by the indemnified party which has not been made pursuant to subsection (1) above, stating with reasonable specificity the nature of such claim and the amount thereof, to the extent known. The claim will be deemed to have resulted in a determination in favor of the indemnified party and to have resulted in a liability of the indemnifying party in an amount equal to the amount of such claim estimated pursuant to this clause (2) if within thirty (30) days after the indemnifying party's receipt of the claim the indemnified party will not have received written objection to the claim. In such event, the claim will be conclusively presumed to have been assented to and approved. If within the aforesaid thirty (30)-day 30) day period the indemnified party will have received written objection to a claim (which written objection will briefly describe the basis of the objection to the claim or the amount thereof, all in good faith), then for a period of sixty (60) days after receipt of such objection the parties will attempt to settle the disputed claim as between the indemnified and indemnifying parties. If they are unable to settle the dispute, the unresolved issue or issues will be settled by a court of competent jurisdiction located in NashvilleLas Vegas, TennesseeNV.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Las Vegas Gaming Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.