Rejection Damage Claims Sample Clauses
The Rejection Damage Claims clause establishes the right of a party to seek compensation if goods or services are rejected due to non-conformity or defects. In practice, this clause outlines the process for making a claim, such as notifying the other party of the rejection and specifying the damages incurred, which may include costs for replacement, repair, or losses resulting from the defective goods. Its core function is to allocate risk and provide a clear mechanism for recovering losses when delivered goods or services fail to meet contractual requirements.
POPULAR SAMPLE Copied 5 times
Rejection Damage Claims. If the rejection by the Debtor, pursuant to the Plan or otherwise, of an Executory Contract or Unexpired Lease gives rise to a Rejection Damage Claim, a proof of Claim must be filed with the Court within (i) thirty (30) days after the date of entry of an order of the Court approving such rejection, or (ii) if the Executory Contract or Unexpired Lease is listed on the Rejection Schedule, within thirty (30) days after the date of entry of the Confirmation Order. For the avoidance of doubt, all Allowed Rejection Damage Claims will be treated as General Unsecured Claims.
Rejection Damage Claims. Any Rejection Damage Claim must be Filed by the applicable Rejection Damage Claim Bar Date. Any timely filed Rejection Damage Claim, will be a General Unsecured Claim to the extent it is Allowed. Any Rejection Damage Claim that is not Filed prior to the Rejection Damage Claim Bar Date shall be forever barred from assertion against the Reorganized Debtor, the Debtor, its Estate, or its property or the Holder of such Rejection Damage Claim shall be conclusively deemed to (i) have waived such Rejection Damage Claim and (ii) release the Debtor with respect thereto.