Ceded Claims definition

Ceded Claims means all claims, rights of action and receivables which the Cedent now has and may at any time during the currency of this Agreement hereafter have against and/or all obligations which are now owed and may at any time during the currency of this Agreement hereafter become owing to the Cedent by all persons, from whatsoever cause and howsoever and whensoever arising whether arising out of contract, delict, unjust enrichment, statutory enactment or the operation of the common law and, without in any way limiting or affecting the generality of the aforegoingwhether such indebtedness be incurred or owed to the Cedent by any Debtor on its own or jointly or in partnership with any other person or jointly or jointly and severally or as guarantor and/or indemnitor;
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Ceded Claims means: 2.2.1 all claims, rights of action and receivables which we now have and may at any time during the currency of this cession hereafter have against and/or all obligations which are now owed and may at any time during the currency of the cession hereafter become owing to us by: 2.2.1.1 all persons arising from or in connection with any contract entered into between us and such persons and, without in any way limiting or affecting the generality of the aforegoing, whether such indebtedness be incurred or owed to us by any person on its own or jointly or in partnership with any other person or jointly and severably or as guarantor and/or indemnitor, it being agreed by us that all of our claims and rights of action in respect of our accounts receivable and/or trade debts do not fall within the provisions of this clause 2. 2.1.1 inasmuch as such claims are dealt with in clause 2.2.1.2 hereof; 2.2.1.2 any trade debtor arising from or in connection with any contract entered into between us and such trade debtor for the provision of goods or services by us to such trade debtor and, without in any way limiting or affecting the generality of the aforegoing, whether such indebtedness be incurred or owed to us by such trade debtor on its own or jointly or in partnership with any other person, a list of the accounts receivable from such trade debtors as at 31 December 2003, is set out in Annexure "A" hereto; and 2.2.1.3 The Standard Bank of South Africa Limited ("Standard Bank") arising from or in connection with the account held by us at the Standard Bank ("Standard Bank account"), being one of the accounts, more specifically in South Africa, contemplated in Article VIII Section 8.01 of the financing agreement, the details whereof we shall furnish to the creditor within 3 (three) days of the Excon approval contemplated (and defined) in clause 22; 2.2.1.4 any securities held by us for the claims referred to in 2.2.1.2 and 2.
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Ceded Claims means 60% (sixty percent) of the Claims being the IDC Ceded Claims and the KBH Ceded Claims, which for the purposes of this Agreement shall be R114 063 669.60 (one hundred and fourteen million sixty three thousand and six hundred and sixty nine Rand and sixty cents), and which the Seller is ceding to the Purchasers in terms of this Agreement;
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Examples of Ceded Claims in a sentence

  • The risk in and benefit of the IDC Sale Shares, the KBH Sale Shares, the IDC Ceded Claims and the KBH Ceded Claims, transferred and deemed to have been receded in terms of clauses 8.2.1 to 8.2.3, shall be deemed to have passed from the IDC and KBH to the Seller upon completion of the transfer of the IDC Shares and the KBH Shares from the IDC and KBH to the Seller in terms of clause 8.2.1.

  • Estimated incurred claims expense, end of coverage year Incurred 26,413 27,889 36,255 40,822 38,921 35,222 34,761 34,220 33,032 34,051 Ceded Claims 1,532 2,006 2,532 5,863 7,240 7,838 6,988 7,544 6,151 6,925 Net incurred claims 24,881 25,883 33,723 34,959 31,681 27,384 27,773 26,676 26,881 27,126 4.

  • Estimated incurred claims expense, end of coverage year Incurred 18,342 17,948 18,833 20,294 19,800 18,873 20,575 22,462 23,543 23,099 Ceded Claims 831 1,337 1,014 805 697 936 875 751 875 769 Net incurred claims 17,511 16,611 17,819 19,489 19,103 17,937 19,700 21,711 22,668 22,330 4.