CompUSA 2015 Annual Report Download - page 105
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Please find page 105 of the 2015 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.10.3 Indemnification by Purchaser and PCM .PurchaserandPCM,jointlyandseverally,shallindemnify,defendandholdharmlessSellers,
SystemaxandtheirrespectiveRepresentativesfromandagainstanyandallDamages,whetherornotinvolvingathirdpartyclaim,arisingoutof,relatingtoor
resulting from (a) any breach or inaccuracy of a representation or warranty of Purchaser or PCM contained in this Agreement or in any other Transaction
Agreement;(b)anybreachofacovenantofPurchaserorPCMcontainedinthisAgreementorinanyotherTransactionAgreement(otherthanabreachofSection
8.16;and(c)anAssumedLiabilityand/orPurchaser’sfailuretosatisfysuchAssumedLiability.
10.4 Limitations .
(a)Notwithstanding anything herein to the contrary, no party obligated to provide indemnification pursuant to this ARTICLE 10 (an“
Indemnitor”) shallbeliableforDamagesofapartyentitledtoindemnification(an“Indemnitee”)pursuanttoSection10.2(a)(i)unlessanduntiltheaggregate
amountofallsuchDamagesincurredbytheIndemniteeexceeds$200,000(the“Basket”),inwhicheventtheIndemnitorshallbeliableforallsuchDamages
abovetheamountoftheBasket,or(ii)totheextentthatsuchDamagesexceed$2,000,000intheaggregate(the“Cap”);provided,however,thatnotwithstanding
the foregoing provisions, (A) Purchaser Indemnified Persons shall be entitled to collect Damages hereunder for breaches or inaccuracies of the Fundamental
RepresentationsinanamountnottoexceedthePurchasePriceandwithoutregardtotheBasket,and(B)anyDamagesresultingfromfraudshallbespecifically
exemptfromtheBasketandtheCap.
(b)ForpurposesofcomputingtheamountofDamagesincurredbyanIndemniteethereshallbedeductedanamountequaltotheamountof
any insurance proceeds actually received by such Indemnitee in connection with such Damages (net of Taxes, deductibles and out-of-pocket costs incurred in
connectionwithsuchinsurancerecovery).
(c)ForpurposesofcomputingtheamountofPurchaserDamagesforindemnificationclaimsmadepursuanttoSection10.2(g),Purchaser
DamagesshallnotincludeanyDamagesthatariseoutoforinconnectionwithPurchaser’soperationoftheBusinessoruseofthePurchasedAssetsfollowingthe
Closing(excludingthetransactionscontemplatedbythisAgreementinrespectofSellers’windingupandliquidationofinventorytotheextenttheseareclaimedto
bePurchaser’soperationsoruseofthePurchasedAssets).
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