Common use of ABSORPTION OF LOSSES Clause in Contracts

ABSORPTION OF LOSSES. In accordance with § 3 of the Agreement, as amended by the Amendment Agreement, BAYER is required to absorb the losses in accordance with section 302 of the AktG, as amended. Pursuant to section 302 of the AktG, BAYER is obligated to compensate any net loss for the year arising during the term of the Agreement to the extent that it is not offset by withdrawing amounts from other retained earnings that were transferred to them during the course of the Agreement. By way of application of section 302(3) of the AktG, with the necessary modifications, BBG may not waive or settle the claim to have losses offset until three years after the date on which entry of the termination of the Agreement in the commercial register is deemed to have been announced. In accordance with section 302(4) of the AktG, the statute of limitation for any claims by BBG is ten years starting from the day on which notice of the entry of the termination of the Agreement in the commercial register has been announced pursuant to section 10 of the HGB. The provision on the absorption of losses also remains essentially unchanged. The original Agree- ment already provided for the application of section 302 of the AktG, with the necessary modifica- tions. The only material change is the dynamic reference to section 302 of the AktG (“as amended”).

ABSORPTION OF LOSSES. In accordance with § 3 of the Agreement, as amended by the Amendment Agreement, BAYER is required to absorb the losses in accordance with section 302 of the AktG, as amended. Pursuant to section 302 of the AktG, BAYER is obligated to compensate any net loss for the year arising during the term of the Agreement to the extent that it is not offset by withdrawing amounts from other retained earnings that were transferred to them during the course of the Agreement. By way of application of section 302(3) of the AktG, with the necessary modifications, BBG BBS may not waive or settle the claim to have losses offset until three years after the date on which entry of the termination of the Agreement in the commercial register is deemed to have been announced. In accordance with section 302(4) of the AktG, the statute of limitation for any claims by BBG BBS is ten years starting from the day on which notice of the entry of the termination of the Agreement in the commercial register has been announced pursuant to section 10 of the HGB. The provision on the absorption of losses also remains essentially unchanged. The original Agree- ment already provided for the application of section 302 of the AktG, with the necessary modifica- tions. The only material change is the dynamic reference to section 302 of the AktG (“as amended”).

ABSORPTION OF LOSSES. In accordance with § 3 of the Agreement, as amended by the Amendment Agreement, BAYER is required to absorb the losses in accordance with section 302 of the AktG, as amended. Pursuant to section 302 of the AktG, BAYER is obligated to compensate any net loss for the year arising during the term of the Agreement to the extent that it is not offset by withdrawing amounts from other retained earnings that were transferred to them during the course of the Agreement. By way of application of section 302(3) of the AktG, with the necessary modifications, BBG BTS may not waive or settle the claim to have losses offset until three years after the date on which entry of the termination of the Agreement in the commercial register is deemed to have been announced. In accordance with section 302(4) of the AktG, the statute of limitation for any claims by BBG BTS is ten years starting from the day on which notice of the entry of the termination of the Agreement in the commercial register has been announced pursuant to section 10 of the HGB. The provision on the absorption of losses also remains essentially unchanged. The original Agree- ment already provided for the application of section 302 of the AktG, with the necessary modifica- tions. The only material change is the dynamic reference to section 302 of the AktG (“as amended”).

ABSORPTION OF LOSSES. In accordance with § 3 of the Agreement, as amended by the Amendment Agreement, BAYER is required to absorb the losses in accordance with section 302 of the AktG, as amended. Pursuant Pursu- ant to section 302 of the AktG, BAYER is obligated to compensate any net loss for the year arising aris- ing during the term of the Agreement to the extent that it is not offset by withdrawing amounts from other retained earnings that were transferred to them during the course of the Agreement. By way of application of section 302(3) of the AktG, with the necessary modifications, BBG BI may not waive or settle the claim to have losses offset until three years after the date on which entry of the termination of the Agreement in the commercial register is deemed to have been announced. In accordance with section 302(4) of the AktG, the statute of limitation for any claims by BBG BI is ten years starting from the day on which notice of the entry of the termination of the Agreement in the commercial register has been announced pursuant to section 10 of the HGB. The provision on the absorption of losses also remains essentially unchanged. The original Agree- ment already provided for the application of section 302 of the AktG, with the necessary modifica- tions. The only material change is the dynamic reference to section 302 of the AktG (“as amended”).

ABSORPTION OF LOSSES. In accordance with § 3 of the Agreement, as amended by the Amendment Agreement, BAYER is required to absorb the losses in accordance with section 302 of the AktG, as amended. Pursuant to section 302 of the AktG, BAYER is obligated to compensate any net loss for the year arising during the term of the Agreement to the extent that it is not offset by withdrawing amounts from other retained earnings that were transferred to them during the course of the Agreement. By way of application of section 302(3) of the AktG, with the necessary modifications, BBG US IP may not waive or settle the claim to have losses offset until three years after the date on which entry of the termination of the Agreement in the commercial register is deemed to have been announced. In accordance with section 302(4) of the AktG, the statute of limitation for any claims by BBG US IP is ten years starting from the day on which notice of the entry of the termination of the Agreement in the commercial register has been announced pursuant to section 10 of the HGB. The provision on the absorption of losses also remains essentially unchanged. The original Agree- ment already provided for the application of section 302 of the AktG, with the necessary modifica- tions. The only material change is the dynamic reference to section 302 of the AktG (“as amended”).