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ERICKSON AIR-CRANE INCORPORATED v. EAC HOLDINGS, L.L.C.

4968, 600325/09.

84 A.D.3d 464 (2011)

ERICKSON AIR-CRANE INCORPORATED, Appellant, v. EAC HOLDINGS, L.L.C., Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided May 5, 2011.

The relationship of the parties was controlled by a stock purchase agreement, which provided that the exclusive remedy of either party alleging a breach of warranty would be indemnification. The procedure set forth in article 9 of the stock purchase agreement makes any demand for indemnification for payment made on third-party claims "contingent" upon the demanding party's compliance with the notice and consent to settlement provisions...

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