Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / indemnification-escrow-memo.docx
indemnification-escrow-memo.docx
Parties
HARKNESS LLP
Meridian Press Holdings LLC
Aurelius Media Holdings Inc
Barnett LLP
Ridgeline Publishing Acquisition Corp
Aurelius Global Media Group PLC
Pinnacle Ridge Capital Management LLC
Meridian Distribution Services Inc
Dates
June 20, 2024
November 8, 2024
November 15, 2024
May 15, 2026
November 15, 2027
July 22, 2024
June 14, 2024
December 31, 2021
March 31, 2024
Amounts
$480,000,000
$6.2
$72,000,000
$4,800,000
$250,000
$250
$750
$96,000,000
$48,000,000
$2,400,000
Obligations
In no event shall Seller's aggregate liability for general indemnification claims exceed the sum of Seventy-Two Million Dollars ($72,000,000)
Survival Expiry Date for General Representations: 18 months from November 15, 2024 = May 15, 2026 All indemnification claims for breaches of general representations and warranties must be asserted by Buyer by delivering written notice to Seller on or before May 15, 2026, in accordance with the notice requirements set forth in Section 9
Any indemnification claim must be asserted by written notice (a "Claim Notice") delivered to Seller in accordance with the general notice provisions of the MIPA (Section 11
Seller's right to assume the defense is subject to the following customary conditions: (a) Seller must engage counsel of recognized competence and standing, reasonably satisfactory to Buyer, to conduct the defense; (b) No actual or reasonably perceived conflict of interest may exist between Seller and Buyer with respect to the defense of the Third-Party Claim that would make it inappropriate for Seller to control the defense; (c) Seller must have adequate financial resources, including access to the escrow fund, to satisfy the claim if it is ultimately resolved adversely; and (d) The Third-Party Claim must not seek injunctive, declaratory, or other non-monetary relief that would directly and adversely affect Buyer or the Company's ongoing business operations
The settlement of any Third-Party Claim requires the consent of both parties, which consent shall not be unreasonably withheld, conditioned, or delayed
Under this provision, for purposes of both (i) determining whether a breach of any representation or warranty has occurred and (ii) calculating the amount of any losses resulting from such breach, all qualifications, limitations, or exceptions based on "materiality," "Material Adverse Effect," or similar concepts contained in the representations and warranties shall be disregarded and given no effect