Common use of Third Party Claim Procedures Clause in Contracts

Third Party Claim Procedures. (a)The Indemnified Party agrees to give prompt notice in writing to the Warrantors or Other Shareholders (each, a “Indemnifying Party”), as applicable, of the assertion of any claim or the commencement of any suit, action or proceeding by any third party (the “Third Party Claim”) in respect of which indemnity may be sought under ‎Section 9.02 or ‎Section 9.03 and provide the Indemnifying Party of available material evidence of such Third Party Claim including court paper. Such notice shall set forth the nature and description in reasonable detail such Third Party Claim and the basis for indemnification (taking into account the information then available to the Indemnified Party). The failure to so notify the Indemnifying Party shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent such failure shall have actually prejudiced the Indemnifying Party.

Appears in 2 contracts

Samples: Share Purchase and Subscription Agreement (ZTO Express (Cayman) Inc.), Share Purchase and Subscription Agreement (ZTO Express (Cayman) Inc.)

AutoNDA by SimpleDocs

Third Party Claim Procedures. (a)The a) The party seeking indemnification under Section 9.02(a) or Section 9.03(a) (the “Indemnified Party Party”) agrees to give prompt notice in writing to the Warrantors or Other Shareholders party against whom indemnity is to be sought (each, a the “Indemnifying Party”), as applicable, ) of the assertion of any claim or the commencement of any suit, action or proceeding by any third party (the a Third Third-Party Claim”) in respect of which indemnity may be sought under ‎Section 9.02 or ‎Section 9.03 and provide the Indemnifying Party of available material evidence of such Third Party Claim including court paperSection. Such notice shall set forth the nature and description in reasonable detail the facts and circumstances of such Third Third-Party Claim and the basis for indemnification in respect thereof (taking into account the information then available to the Indemnified Party). The failure of the Indemnified Party to so notify the Indemnifying Party shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent such failure shall have actually prejudiced the Indemnifying Party.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Actua Corp), Agreement and Plan of Merger (Actua Corp)

Third Party Claim Procedures. (a)The a) The party seeking indemnification under ‎‎Section 7.02 (the “Indemnified Party Party”) agrees to give prompt notice in writing to the Warrantors or Other Shareholders party against whom indemnity is to be sought (each, a the “Indemnifying Party”), as applicable, ) of the assertion of any claim or the commencement of any suit, action or proceeding Proceeding by any third party (for the avoidance of doubt, a third party does not include an Affiliate of a party hereto) (Third Third-Party Claim”) in respect of which indemnity may be sought under ‎Section 9.02 or ‎Section 9.03 and provide the Indemnifying Party of available material evidence of such Third Party Claim including court paperSection. Such notice shall set forth the nature and description in reasonable detail such Third Third-Party Claim and the basis for indemnification (taking into account the information then available to the Indemnified Party). The failure to so notify the Indemnifying Party (and, if applicable, the Subscriber) shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent such failure shall have actually prejudiced the Indemnifying Party.

Appears in 1 contract

Samples: Sale and Subscription Agreement (Allegro Microsystems, Inc.)

AutoNDA by SimpleDocs

Third Party Claim Procedures. (a)The a) The party seeking indemnification under this Article 13 (or any other provision of this Agreement that expressly provides for indemnification) (the “Indemnified Party Party”) agrees to give prompt notice in writing to the Warrantors or Other Shareholders party against whom indemnity is to be sought (each, a the “Indemnifying Party”), as applicable, ) of the assertion of any claim or the commencement of any suit, action or proceeding by any third party (the “Third Party Claim”) in respect of which indemnity may be sought under ‎Section 9.02 or ‎Section 9.03 and provide the Indemnifying Party of available material evidence of such Third Party Claim including court paperSection. Such notice shall set forth the nature and description in reasonable detail such Third Party Claim and the basis for indemnification (taking into account the information then available to the Indemnified Party). The failure to so notify the Indemnifying Party shall not relieve the Indemnifying Party of its obligations hereunder, except to the extent such failure shall have actually prejudiced the Indemnifying Party.

Appears in 1 contract

Samples: Asset Purchase Agreement (Murphy Oil Corp /De)

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