Ascertained Claim definition

Ascertained Claim means an amount (if any) in relation to a claim by the Purchaser under the Warranties and/or the Tax Covenant which, subject to the limitations contained in Part 5 of the Schedule and/or the Tax Covenant (as appropriate), has either (i) been agreed in writing between the Warrantors and the Purchaser; or (ii) which a Court of competent jurisdiction (from which there is no appeal or from which it is no longer possible to appeal its decision) orders should be paid to the Purchaser pursuant to any such claim; Associate means (1) in relation to a Vendor (other than a Vendor acting in the capacity of a trustee) who is an individual, any spouse or lineal ascendant or descendant, any partnership of which any of the foregoing is a partner or any company which is controlled (within the meaning of TA 1988 section 840) by any one or more of the foregoing, whether alone or in conjunction with any other party and (2) in relation to a Vendor (other than a Vendor acting in the capacity of a trustee) who is a corporate entity:-
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Examples of Ascertained Claim in a sentence

  • If the Net Financial Claim exceeds the Limited Ascertained Non-Financial Contract Liabilities, then the Limited Ascertained Non-Financial Contract Liabilities will be Reduced in full in accordance with Clause 60.1.4 and any remaining amount of Net Financial Claim after Appropriation in accordance with Clause 60.1.4 shall become an Ascertained Claim.

  • For a Signatory with a Net Financial Liability, subject to Clause 46.2 or Clause 48.3 (as applicable), the aggregate of all excess Asset Shortfall Claims after Appropriation in accordance with Clause 60.5.4 shall be Valued as at the Date Before Administration and become an Ascertained Claim.

  • For a Signatory with a Net Financial Claim, subject to Clause 46.2 or Clause 48.3 (as applicable), the aggregate of all Asset Shortfall Claims shall be Valued as at the Date Before Administration and become an Ascertained Claim.

  • Such Ascertained Claim shall be dealt with and settled by the Developer in accordance with the Consortium Partner’s Portions.

  • These are exchanged for new rights: to have their Net Contractual Position, Allocations and Distributions determined on the basis set out in the Agreement; to claim as a new obligation of the Company their Net Financial Claim; and to have an Ascertained Claim (if any) for such amount as is determined under the Agreement - see section 10.1 (Ascertained Claim) below.

  • For an Affected TA Signatory who has made an Affected Intermediary Collateralisation Election and has an amount of Shortfall For Appropriation remaining after all Collateralised Net Financial Liability has been Reduced in accordance with Clause 60.6.5, the Ascertained Shortfall Amount shall become an Ascertained Claim.

  • Instead, a different amount determined by the Company (which may be zero) (the “Ascertained Shortfall Amount”) will become as Ascertained Claim.

  • However, unlike an Asset Shortfall Claim, any remaining Shortfall For Appropriation after all the Collateralised Net Financial Liability has been Reduced will not become an Ascertained Claim.

  • Following all Appropriations and Distributions, to the extent that there is any excess Asset Shortfall Claim, Net Financial Claim or shortfall claim in Pre-Administration Client Money (whether or not a Client Money Collateralisation Election has been made) remaining or any Ascertained Shortfall Amounts, they will be Ascertained Claims, as described in section 10.1 (Ascertained Claim), of the relevant TA Signatory in the insolvency of the Company.

  • An Ascertained Claim is an unsecured claim in the Company’s winding-up or any other Distribution of the Company’s assets generally to its unsecured creditors for an amount determined under the Agreement.