Claw-Back Liabilities definition
Claw-Back Liabilities means Liabilities in respect of fees and/or expenses of the Practice which were paid to the Company prior to the Closing Date, but which the Company is required to disgorge or otherwise pay back to a client of the Practice (or its creditors) in connection with bankruptcy, reorganization or other similar Proceedings involving the client, net of any accounts realized on allowed claims or other defenses.