Practical Law Glossary Item 1-382-3631 (Approx. 2 pages)
Glossary
Mini-Basket
An indemnification concept further limiting a party's obligation if such obligation is already subject to a basket (the amount that an indemnified party's losses must exceed before it can seek indemnity). A mini-basket provides that losses must exceed a certain agreed amount with respect to a particular claim before it counts towards the general basket.