Common use of Payment of Indemnification Clause in Contracts

Payment of Indemnification. Contributor shall (as provided in Section 3.5(b)) satisfy its obligations hereunder by the prompt delivery (paid promptly as and when expenses are incurred) to an Indemnified Party of its Partnership Units (if any), or at its election, by payment in cash. Any Partnership Units delivered to an Indemnified Party hereunder shall be valued based upon the initial public offering price of the Common Stock. Notwithstanding any provision of the Agreement or this Exhibit D, no Indemnified Party shall have the right to receive or recover punitive damages against any Contributor by reason of any breach under or in connection with the Agreement or any schedule, exhibit, certificate or affidavit or any other document delivered by such Contributor pursuant to the Agreement, and each Indemnified Party hereby waives any and all right to receive such punitive damages.